(Table: Production Possibilities Schedule) In the table, if society wants to increase production of HDTVs from 2,000 to 3,000 units, the opportunity cost of doing so will be _____ iPads.

Question

Quizplus · Accepted Answer

To increase production of HDTVs from 2,000 to 3,000 units, society has to give up production of 1,500 iPads (3000-2000=1000, 1000/0.667=1,500). Therefore, the opportunity cost of increasing HDTV production is 1,500 iPads.

(Table: Production Possibilities Schedule) in the Table, If Society Wants