Table 2.1.Output Possibilities of the U.S.and the U.K.

-Referring to Table 2.1,the opportunity cost of producing one ton of steel in the United States is:
A) 3 televisions
B) 10 televisions
C) 20 televisions
D) 45 televisions

Question

Table 2.1.Output Possibilities of the U.S.and the U.K.
 
-Referring to Table 2.1,the opportunity cost of producing one ton of steel in the United States is:
A) 3 televisions 
B) 10 televisions 
C) 20 televisions 
D) 45 televisions

Quizplus · Accepted Answer

The opportunity cost of producing one ton of steel is the number of televisions that could have been produced instead. According to Table 2.1, this is 3 televisions.