Use the following to answer question:
-(Table: Production Possibilities for Machinery and Petroleum)Use Table: Production Possibilities for Machinery and Petroleum.In the United States the opportunity cost of producing 40 units of machinery is _____ units of petroleum.

Question

Use the following to answer question: 
-(Table: Production Possibilities for Machinery and Petroleum)Use Table: Production Possibilities for Machinery and Petroleum.In the United States the opportunity cost of producing 40 units of machinery is _____ units of petroleum.

Quizplus · Accepted Answer

The opportunity cost is calculated based on the production possibilities table, which typically shows the trade-off between two goods. If the table indicates that producing 40 units of machinery results in the loss of 20 units of petroleum, then the opportunity cost is 20 units of petroleum.

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