Table 3-2
-In Table 3-2, from combination C, the opportunity cost of 2 more units of cotton would be
A)4 units of corn.
B)8 units of corn.
C)14 units of corn.
D)16 units of corn.

Question

Table 3-2  ​
-In Table 3-2, from combination C, the opportunity cost of 2 more units of cotton would be
A)4 units of corn. 
B)8 units of corn. 
C)14 units of corn. 
D)16 units of corn.

Quizplus · Accepted Answer

The opportunity cost is calculated by determining how much of one good must be given up to produce more of another. If 2 more units of cotton require giving up 4 units of corn, then the opportunity cost is 4 units of corn.

Table 3-2 ​

Table 3-2