Table 3-1
$\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make } 1 \mathrm{~kg} \text { of: }&&\text { Kgs produced in } 20 \text { hours: }\
\hline & \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \
\hline \text { Potato farmer } & 10 & 5 & 2 & 4 \
\hline \text { Zattle farmer } & 4 & 1 & 5 & 20 \
\hline
\end{array}$
-Refer to Table 3-1.For the cattle farmer, the opportunity cost of 1 kg of meat is:
A)five hours of labour
B)one hour of labour
C)1/4 kg of potatoes
D)4 kg of potatoes

Question

Table 3-1
 $\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make } 1 \mathrm{~kg} \text { of: }&&\text { Kgs produced in } 20 \text { hours: }\
\hline & \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \
\hline \text { Potato farmer } & 10 & 5 & 2 & 4 \
\hline \text { Zattle farmer } & 4 & 1 & 5 & 20 \
\hline
\end{array}$
-Refer to Table 3-1.For the cattle farmer, the opportunity cost of 1 kg of meat is:
A)five hours of labour
B)one hour of labour
C)1/4 kg of potatoes
D)4 kg of potatoes

Quizplus · Accepted Answer

The opportunity cost of producing 1 kg of meat is what must be given up to produce it. If producing 1 kg of meat means forgoing the production of 4 kg of potatoes, then the opportunity cost of 1 kg of meat is 4 kg of potatoes.

Table 3-1 -Refer to Table 3-1