Based on the number of peacocks and turkeys that can be owned, the opportunity cost of one peacock is<u> 20 turkeys. </u>
<h3>What is opportunity cost?</h3>
- Refers to the benefit that we forego when we choose an alternative over another.
In this scenario, Susie can either have 100 turkeys or 5 peacocks. The opportunity cost of a single peacock would be:
<h3>Opportunity cost of peacock </h3>
= Number of turkey / Number of peacock
= 100 / 5
= 20 turkeys
In conclusion, opportunity cost of a single peacock is 20 turkeys.
Find out more on opportunity cost at brainly.com/question/3597509.
Answer: False
Explanation: They have a division for college students , parents and educators.
Answer:
This is because of the ethics guiding the body. For example, ethically, it is wrong for the agent to put his email address in the application in LEAN where it should have been the customer's own. <em>There is a possibility of the identity theft or fraud being committed when such happens.</em>
Explanation:
Answer:
a. Italy has a comparative advantage in producing potatoes
Explanation:
Let us compute opportunity costs (OC).
In France,
OC of potato = 3000/9000
= 0.33 lemon
OC of lemon = 9000/3000
= 3 potato
In Italy,
OC of potato = 3000/3000
= 1 lemon
OC of lemon = 3000/3000
= 1 potato
France can produce potato at a lower OC than Italy, so France has comparative advantage in potato. Italy has a comparative advantage in producing lemons.
Trade is mutually beneficial if terms of trade (relative price) lies between the OC.
0.33 < Relative price of potato < 1 lemon, Or
1 potato < Relative price of lemon < 3 potato
Therefore, Italy has a comparative advantage in producing potatoes.