If the money price of wheat increases and no other prices change, the

Name: If the money price of wheat increases and no other prices change, the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in the money price of wheat means that more money is needed to buy the same amount of wheat. This raises the opportunity cost of wheat, as other goods and services that could have been purchased with the same amount of money now become relatively cheaper in comparison. Therefore, the correct choice is D - the opportunity cost of wheat rises.

If the Money Price of Wheat Increases and No Other