Multiple Choice
Answer the question on the basis of the following information about the cost ratios for two products-fish (F) and chicken (C) -in countries Singsong and Harmony.Assume that production occurs under conditions of constant costs and these are the only two nations in the world. Singsong: 1F = 2C
Harmony: 1F = 4C
Refer to the given information.In Singsong the domestic real cost of each chicken:
A) is ½ fish.
B) is 2 fish.
C) increases with the level of fish caught.
D) decreases with the level of fish caught.
Correct Answer:
Verified
Correct Answer:
Verified
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