Refer to Table 18.1. The opportunity cost of a glove in Panama is ...

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Refer to Table 18.1. The opportunity cost of a glove in Panama is
 
  A) 1/8 of a hat. B) 3/4 of a hat. C) 4/3 hats. D) 8 hats.

Question 2

According to this Application, in Peru, producing palm oil is very profitable but is a time consuming process. Producing coca paste, an ingredient in cocaine, is not as costly or as time consuming as the production of palm oil.
 
  To switch Peruvian farmers from producing an ingredient used for cocaine to producing the profitable and safe palm oil would require
  A) improvements in finance and the ability to borrow funds.
  B) informal ownership of property.
  C) governmental approval.
  D) cocaine being declared illegal in Peru.

[paavo]

Answer to Question 1

B

Answer to Question 2

A

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Thank you

[paavo]

No problemo