Table 3-1
$\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make } 1 \mathrm{~kg} \text { of: }&&\text { Kgs produced in } 20 \text { hours: }\
\hline & \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \
\hline \text { Potato farmer } & 10 & 5 & 2 & 4 \
\hline \text { Zattle farmer } & 4 & 1 & 5 & 20 \
\hline
\end{array}$
-Refer to Table 3-1.For the cattle farmer, the opportunity cost of one kg of potatoes is:
A)four hours of labour
B)two hours of labour
C)1/4 kg of meat
D)4 kg of meat

Question

Table 3-1
 $\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make } 1 \mathrm{~kg} \text { of: }&&\text { Kgs produced in } 20 \text { hours: }\
\hline & \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \
\hline \text { Potato farmer } & 10 & 5 & 2 & 4 \
\hline \text { Zattle farmer } & 4 & 1 & 5 & 20 \
\hline
\end{array}$
-Refer to Table 3-1.For the cattle farmer, the opportunity cost of one kg of potatoes is:
A)four hours of labour
B)two hours of labour
C)1/4 kg of meat
D)4 kg of meat

Quizplus · Accepted Answer

The opportunity cost of one good is what you give up of another good to produce it. In this case, for the cattle farmer to produce 1 kg of potatoes, they give up the opportunity to produce 1/4 kg of meat, assuming the information in Table 3-1 shows a trade-off between producing meat and potatoes.

Table 3-1 -Refer to Table 3-1