Suppose that the United States and Canada both produce only two products, televisions and food. The United States can produce 100 televisions a day, 150 pounds of food a day, or any combination in between. (For example, the United States could produce 100 televisions and no food, 50 televisions and 75 pounds of food, or 150 pounds of food and no televisions.) Canada can produce 300 televisions a day, 330 pounds of food a day, or any combination in between. What is the United States’ opportunity cost for producing 1 pound of food?
a. two-thirds of a television
b. 1.5 televisions
c. 100 televisions
d. 150 televisions
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Suppose that the United States and Canada both produce only two products, televisions and food. The...
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