Figure 3-1

According to Figure 3-1, the opportunity cost of one more bushel of wheat is

Question

Figure 3-1

According to Figure 3-1, the opportunity cost of one more bushel of wheat is

Quizplus · Accepted Answer

Figure 3-1 shows a bowed out production possibilities curve, indicating increasing opportunity cost as more of one good is produced. Therefore, the opportunity cost of one more bushel of wheat is lower at point B (where the economy is producing less wheat and more corn) than at point D (where the economy is producing more wheat and less corn).

Figure 3-1 According to Figure 3-1, the Opportunity Cost of One More