Asked by Julia Guerrero on Jul 01, 2024
Refer to Figure 3-3. If the production possibilities frontier shown for Tanek is for 120 hours of production, then how long does it take Tanek to make one burrito?
A) 0.1 hour
B) 0.4 hour
C) 3 hours
D) 2.5 hours
Production Possibilities Frontier
A graphical depiction that shows the maximum quantity of one good that can be produced for every possible quantity of another good, given the available resources and technology.
Burrito
A type of Mexican street food consisting of a wheat flour tortilla wrapped or folded into a cylindrical shape to enclose fillings.
- Understand the concept of opportunity cost and how it relates to comparative advantage.
Learning Objectives
- Understand the concept of opportunity cost and how it relates to comparative advantage.