(Figure: Corn and Oil in the United States and the United Kingdom) Refer to the graphs for the United States and the United Kingdom. If the starting point is a, what is the opportunity cost of the United States producing 15 more barrels of oil?

Question

Quizplus · Accepted Answer

Moving from point a to point b in the US graph requires sacrificing 15 bushels of corn, therefore the opportunity cost of producing 15 more barrels of oil is 15 bushels of corn.