Table 2-1
$\text { Production possibilities for Poland }$
$\begin{array}{|l|l|}
\hline \text { Vodka (l) } & \text { Potatoes (kg) } \
\hline 1000 & 0 \
\hline 850 & 400 \
\hline 650 & 760 \
\hline 430 & 900 \
\hline 175 & 1200 \
\hline 0 & 1700 \
\hline
\end{array}$
-Refer to Table 2-1.What is the opportunity cost of increasing the production of potatoes from 900 kg to 1200 kg?

Question

Table 2-1
 $\text { Production possibilities for Poland }$
$\begin{array}{|l|l|}
\hline \text { Vodka (l) } & \text { Potatoes (kg) } \
\hline 1000 & 0 \
\hline 850 & 400 \
\hline 650 & 760 \
\hline 430 & 900 \
\hline 175 & 1200 \
\hline 0 & 1700 \
\hline
\end{array}$
-Refer to Table 2-1.What is the opportunity cost of increasing the production of potatoes from 900 kg to 1200 kg?

Quizplus · Accepted Answer

The opportunity cost is the amount of vodka that must be given up to produce the additional potatoes. From Table 2-1, we can see that producing 900 kg of potatoes requires 100 l of vodka, while producing 1200 kg of potatoes requires 355 l of vodka. Therefore, the opportunity cost of increasing the production of potatoes from 900 kg to 1200 kg is 355 l - 100 l = 255 l of vodka.

Table 2-1 Production possibilities for Poland \text { Production possibilities for Poland } Production possibilities for Poland -Refer to Table 2-1

Table 2-1 $\text { Production possibilities for Poland }$ -Refer to Table 2-1