-Refer to Table 3-6. What is the opportunity cost of one unit of bread in Denmark?
A) 1/2 cheese
B) 1 cheese
C) 2 cheeses
D) 4 cheeses

Question

-Refer to Table 3-6. What is the opportunity cost of one unit of bread in Denmark?
A) 1/2 cheese 
B) 1 cheese 
C) 2 cheeses 
D) 4 cheeses

Quizplus · Accepted Answer

The opportunity cost of one unit of bread in Denmark is determined by how much cheese could be produced using the resources needed to produce one unit of bread. If the table (which is not provided here) shows that Denmark can produce bread and cheese at a certain rate, the opportunity cost of one unit of bread is how much cheese is forgone. If the correct answer is C) 2 cheeses, it means that for every unit of bread produced, Denmark could have produced 2 units of cheese instead.