Table 2-5
-Refer to Table 2-5. Table 2-5 shows one set of production possibilities. What is the opportunity cost of increasing the production of corn from 400 bushels to 800 bushels?
A)200 bushels of wheat
B)400 bushels of wheat
C)600 bushels of wheat
D)800 bushels of wheat

Question

Table 2-5 
-Refer to Table 2-5. Table 2-5 shows one set of production possibilities. What is the opportunity cost of increasing the production of corn from 400 bushels to 800 bushels?
A)200 bushels of wheat 
B)400 bushels of wheat 
C)600 bushels of wheat 
D)800 bushels of wheat

Quizplus · Accepted Answer

The opportunity cost is the amount of wheat that must be given up to increase corn production from 400 to 800 bushels. According to the table, this requires sacrificing 400 bushels of wheat.

Table 2-5 -Refer to Table 2-5. Table 2-5 Shows One Set of One