output
textiles
wheat
g
100
0
h
80
120
i
60
220
j
40
300
k
20
360
l
0
400
1. If Galesburg is currently producing at point H, what is the opportunity cost of obtaining an additional 100 bushels of wheat?
Select one:
a. 360 bales of textiles
b. 60 bales of textiles
c. 240 bales of textiles
d. 20 bales of textiles
2. Suppose Galesburg is currently producing at point K and would like to move to point J. This movement:
Select one:
a. Requires a sacrifice of 60 bushels of wheat to obtain an additional 20 bales of textiles
b. Enables it to obtain an additional 20 bales of textiles and an additional 60 bushels of wheat
c. Enables Galesburg to increase textile production with no reduction in wheat production
d. Suggests that point K is an inefficient choice for Galesburg
output | textiles | wheat |
g | 100 | 0 |
h | 80 | 120 |
i | 60 | 220 |
j | 40 | 300 |
k | 20 | 360 |
l | 0 | 400 |
1. If Galesburg is currently producing at point H, what is the opportunity cost of obtaining an additional 100 bushels of wheat?
Select one:
a. 360 bales of textiles
b. 60 bales of textiles
c. 240 bales of textiles
d. 20 bales of textiles
2. Suppose Galesburg is currently producing at point K and would like to move to point J. This movement:
Select one:
a. Requires a sacrifice of 60 bushels of wheat to obtain an additional 20 bales of textiles
b. Enables it to obtain an additional 20 bales of textiles and an additional 60 bushels of wheat
c. Enables Galesburg to increase textile production with no reduction in wheat production
d. Suggests that point K is an inefficient choice for Galesburg
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