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Figure: Indifference Curves (Figure: Indifference Curves) What Is the Opportunity

Question 51

Multiple Choice

Figure: Indifference Curves Figure: Indifference Curves (Figure: Indifference Curves) What is the opportunity cost of cloth in Terms of wheat in this example? A) A unit of cloth may be obtained by foregoing a unit of wheat. B) A unit of cloth costs 2 units of wheat. C) A unit of cloth costs 1/2 unit of wheat. D) Not enough information is given to answer. (Figure: Indifference Curves) What is the opportunity cost of cloth in
Terms of wheat in this example?

A) A unit of cloth may be obtained by foregoing a unit of wheat.
B) A unit of cloth "costs" 2 units of wheat.
C) A unit of cloth "costs" 1/2 unit of wheat.
D) Not enough information is given to answer.

Correct Answer: