D Question 13 4 pts In a given amount of time John can produ

D Question 13 4 pts In a given amount of time John can produce either 30 pounds of vegetables or 10 pounds of chicken. In the same amount of time George can produce either 25 pounds of vegetables or 5 pounds of chicken. In this simple economy if John and George decide to specialize and exchange with each other then we can expect one pound of chicken to trade for at least pounds of vegetables but not more than pounds of vegetables. Enter numerical values in each blank, rounded to two decimal places as necessary.

Solution

Vegetable Chicken John 30 10 George 25 5 13) the opportunity cost of chicken tto john = 30/10 = 3. The opportunity cost of chicken to george = 25/5 = 5. The answer is 3,5. 14) The opportunity cost of X = 6/3 = 2. So number of X produced will be 6*3 = 18 18) oppportunity cost of sandwich = 40/32 = 1.25 salads