Use the following to answer question:
-(Scenario: The Production of Wheat and Toys)Use Scenario: Production of Wheat and Toys.The opportunity cost of producing a unit of wheat in country B is:

Question

Use the following to answer question: 
-(Scenario: The Production of Wheat and Toys)Use Scenario: Production of Wheat and Toys.The opportunity cost of producing a unit of wheat in country B is:

Quizplus · Accepted Answer

According to the scenario, the opportunity cost of producing a unit of wheat in country B is 3 toys. This means that if country B decides to produce one unit of wheat, it will have to give up producing 3 toys. Therefore, it is more efficient for country B to produce toys since the opportunity cost of producing wheat is higher than that of producing toys (i.e. they give up more toys to produce wheat).

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