Refer to Table 2-16. What is Finland's opportunity cost of ...

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Refer to Table 2-16. What is Finland's opportunity cost of producing one board foot of lumber?
 
  A) 0.25 cell phones B) 4 cell phones C) 12 cell phones D) 16 cell phones

Question 2

Refer to Figure 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?
 
  A) the social marginal cost of harvesting salmon
  B) the social marginal benefit of harvesting salmon
  C) the private marginal cost of harvesting salmon
  D) the private marginal benefit of harvesting salmon

[amcvicar]

Answer to Question 1

A

Answer to Question 2

C

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Excellent

[JaynaD87]

Thanks for the timely response, appreciate it