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.Which one of the following would not be feasible terms for trade between Singsong and Harmony?
A) 1 fish for 2½ chicken
B) 1 fish for 3 chicken
C) 1 chicken for 1/5 of a fish
D) 1 chicken for 1/3 of a fish
Correct Answer:
Verified
Correct Answer:
Verified
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