Q.

Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,

A. the domestic price of 1 ring is 1/4 of a watch.
B. the domestic price of 1 ring is 3 watches.
C. the domestic price of 1 ring is 1/3 of a watch.
D. the domestic price of 1 ring is 12 watches
Answer» C. the domestic price of 1 ring is 1/3 of a watch.
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