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Use the table below to answer the question below; The international production set for Nigeria...

Economics
JAMB 2021

Use the table below to answer the question below;

The international production set for Nigeria and Austria is;

Products Nigeria Austria
Cocoa 20 tonnes 12 tonnes
Lace 1o metres 8 metres

 

The Opportunity cost ratio tor cocoa and lace Tor Austria and Nigeria is_______

  • A. 1.5:2
  • B. 2:2
  • C. 2:1.5
  • D. 0.5:1.5
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Correct Answer: Option A
Explanation
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