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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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