FIGURE 2-8

-Refer to Figure 2-8. In order to move from Point B to Point C, what will the economy have to give up?

Question

FIGURE 2-8
 
-Refer to Figure 2-8. In order to move from Point B to Point C, what will the economy have to give up?

Quizplus · Accepted Answer

Moving from Point B to Point C requires the economy to produce 200 more bushels of corn, which means it has to give up some of the production of other goods. Giving up 200 bushels of wheat is the only option listed that equals the opportunity cost of producing 200 more bushels of corn. Therefore, the correct answer is C, 200 bushels of wheat.

FIGURE 2-8 -Refer to Figure 2-8. in Order to Move from Point