If a farmer's opportunity cost of producing 10,000 bushels of wheat is 5,000 fewer bushels of soybeans, then his or her opportunity cost of producing 5,000 bushels of soybeans must be 10,000 fewer bushels of wheat.

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This statement is true based on the concept of opportunity cost. If the farmer must give up 5,000 bushels of soybeans to produce 10,000 bushels of wheat, then the opportunity cost of producing 5,000 bushels of soybeans is what the farmer could have produced with those same resources - which is 10,000 bushels of wheat. Therefore, the opportunity cost of producing soybeans is higher than that of producing wheat for this farmer.

If a Farmer's Opportunity Cost of Producing 10,000 Bushels of Wheat