Refer to the information provided in Figure 33.1 below to answer the question(s) that follow. Figure 33.1
-Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in the United States is
A) half a bushel of soybeans.
B) 1 bushel of soybeans.
C) 2 bushels of soybeans.
D) 300 bushels of soybeans.

Question

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.  Figure 33.1
-Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in the United States is
A) half a bushel of soybeans. 
B) 1 bushel of soybeans. 
C) 2 bushels of soybeans. 
D) 300 bushels of soybeans.

Quizplus · Accepted Answer

The opportunity cost of producing a bushel of alfalfa in the United States is half a bushel of soybeans. This is because the production possibilities curve shows that the United States can produce either 1 bushel of soybeans or 2 bushels of alfalfa. Therefore, the opportunity cost of producing a bushel of alfalfa is half a bushel of soybeans.

Refer to the Information Provided in Figure 33