Question

A 4-column table has 2 rows. The first column is labeled country with entries Country A, Country B. The second column is labeled Cost (units) with entries 1, 1. The third column is labeled Petroleum (units) with entries 16, 8. The fourth column is labeled Seafood (units) with entries 8, 8.
Fill in each blank with the correct number from the table.
Based on the data in the table, the opportunity cost for Country A to produce 16 units of petroleum is
units of seafood.
The opportunity cost for Country B to produce 8 units of petroleum is
units of seafood.

Answer 1

Country A: 8 units of seafood.
Country B: 8 units of seafood.

Explanation: Country A can produce either 16 petroleum or 8 seafood with the same resources, so producing 16 petroleum means forgoing 8 seafood. Country B can produce either 8 petroleum or 8 seafood, so producing 8 petroleum means forgoing 8 seafood.