Once you find the opportunity cost of producing one unit of a good,to find the opportunity cost of producing the other good,you must
A) take the inverse.
B) multiply by the total amount produced of the second good.
C) divide by the total amount produced of the second good.
D) do nothing because the opportunity cost for the first good is the same as the opportunity cost for the second good.
E) None of the answers is correct.

Question

Quizplus · Accepted Answer

Taking the inverse of the opportunity cost of producing one unit of a good gives you the opportunity cost of producing the other good in a two-good scenario. This is because opportunity cost is reciprocal when comparing two goods.

Once You Find the Opportunity Cost of Producing One Unit