Britain must give up the production of 75 hats to produce 25 additional sweaters.The opportunity cost of producing 4 sweaters is _____ hats.

Name: Britain must give up the production of 75 hats to produce 25 additional sweaters.The opportunity cost of producing 4 sweaters is _____ hats.
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Question

Quizplus · Accepted Answer

The opportunity cost of producing 1 sweater is 75 hats / 25 sweaters = 3 hats. Therefore, the opportunity cost of producing 4 sweaters is 4 sweaters * 3 hats/sweater = 12 hats.

Britain Must Give Up the Production of 75 Hats to Produce