Suppose Sam's opportunity cost of producing a sweater is $37. Which of the following prices would he have to observe in the market in order to sell a sweater?
A) $37
B) $37.01
C) $50
D) Sam would sell a sweater at any of these prices.

Question

Quizplus · Accepted Answer

Sam would be willing to sell a sweater at any price equal to or greater than his opportunity cost of $37. This includes prices of $37, $37.01, and $50.

Suppose Sam's Opportunity Cost of Producing a Sweater Is $37