Assume Saudi Arabia and the United States face the production possibilities for oil and cars shown in the table.
|
|
|
0
|
4
|
0
|
10.0
|
|
200
|
3
|
100
|
7.5
|
|
400
|
2
|
200
|
5.0
|
|
600
|
1
|
300
|
2.5
|
|
800
|
0
|
400
|
0
|
Calculate the following opportunity costs:
The opportunity cost of producing a car in Saudi Arabia is ______ million barrels of oil.
The opportunity cost of producing a car in the United States is _______ million barrels of oil.
The opportunity cost of producing a barrel of oil in Saudi Arabia is _________ of a car (in decimal form). Round your answer to three decimal places.
The opportunity cost of producing a barrel of oil in the United States is _______ of a car (in decimal form). Round your answer to three decimal places.