Exhibit 2-3

-Refer to the exhibit.In Costa Rica, what is the opportunity cost of 1 tonne of rice?

Question

Exhibit 2-3
 
-Refer to the exhibit.In Costa Rica, what is the opportunity cost of 1 tonne of rice?

Quizplus · Accepted Answer

The opportunity cost of producing 1 tonne of rice in Costa Rica is the amount of the other good (T-shirts) that must be given up to produce an additional tonne of rice. If the exhibit (which is not visible) shows that producing 1 tonne of rice means forgoing the production of 1 T-shirt, then the opportunity cost of 1 tonne of rice is 1 T-shirt.

Exhibit 2-3 -Refer to the Exhibit.In Costa Rica, What Is the Opportunity