If a laborer in Mexico can produce 2 bushels of wheat or 4 ...

[notis]

If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

A new U.S. import quota on imported steel would be likely to:
 a. reduce the cost of production to steel-using American firms.
  b. generate tax revenue to the government.
 c. increase U.S. production of steel.
 d. increase the production of steel-using American firms.

[meryzewe]

Answer to Question 1

False

Answer to Question 2

c

[notis]

Thanks for the timely response, appreciate it

[Joy Chen]

Great answer, keep it coming