Figure 2-6

-Refer to Figure 2-6. Consider the production possibilities frontier for an economy that produces only cars and sofas. The opportunity cost of each car is
A)the slope of the production possibilities frontier, or $$\frac { 1 } { 2 }$$ Of a sofa.
B)the reciprocal of the slope of the production possibilities frontier, or 2 sofas.
C)the reciprocal of the slope of the production possibilities frontier, or $$\frac { 1 } { 2 }$$ Of a sofa.
D)the slope of the production possibilities frontier, or 2 sofas.

Question

Figure 2-6
 
-Refer to Figure 2-6. Consider the production possibilities frontier for an economy that produces only cars and sofas. The opportunity cost of each car is
A)the slope of the production possibilities frontier, or $$\frac { 1 } { 2 }$$ Of a sofa. 
B)the reciprocal of the slope of the production possibilities frontier, or 2 sofas. 
C)the reciprocal of the slope of the production possibilities frontier, or $$\frac { 1 } { 2 }$$ Of a sofa. 
D)the slope of the production possibilities frontier, or 2 sofas.

Quizplus · Accepted Answer

The opportunity cost of a car is represented by the slope of the production possibilities frontier, which is 2 sofas.

Figure 2-6 -Refer to Figure 2-6 12\frac { 1 } { 2 }21​

Figure 2-6

-Refer to Figure 2-6 $\frac { 1 } { 2 }$