Table 3-3

-Refer to Table 3-3.The opportunity cost of 1 basket for Missouri is
A)1/4 birdhouse.
B)1/2 birdhouse.
C)2 birdhouses.
D)2 2/3 birdhouses.

Question

Table 3-3
 
-Refer to Table 3-3.The opportunity cost of 1 basket for Missouri is
A)1/4 birdhouse. 
B)1/2 birdhouse. 
C)2 birdhouses. 
D)2 2/3 birdhouses.

Quizplus · Accepted Answer

The opportunity cost of producing 1 basket in Missouri is the amount of birdhouses that could have been produced instead. If Missouri can produce 2 birdhouses for every basket, then the opportunity cost of 1 basket is 2 birdhouses.

Table 3-3 -Refer to Table 3-3.The Opportunity Cost of 1 Basket for of 1