Table 3-1
Assume that Andia and Zardia can switch between producing wheat and producing beef at a constant rate.

-Refer to Table 3-1.What is Andia's opportunity cost of producing one pound of beef?
A) 3/5 bushel of wheat
B) 6/5 bushels of wheat
C) 4/3 bushels of wheat
D) 5/3 bushels of wheat

Question

Table 3-1
Assume that Andia and Zardia can switch between producing wheat and producing beef at a constant rate.
 
-Refer to Table 3-1.What is Andia's opportunity cost of producing one pound of beef?
A) 3/5 bushel of wheat 
B) 6/5 bushels of wheat 
C) 4/3 bushels of wheat 
D) 5/3 bushels of wheat

Quizplus · Accepted Answer

The opportunity cost of producing one pound of beef is the amount of wheat Andia has to give up. If Andia can produce 5 pounds of beef or 3 bushels of wheat, the opportunity cost of 1 pound of beef is 3/5 bushel of wheat.

Table 3-1 Assume That Andia and Zardia Can Switch Between Producing Wheat