Exhibit 2.1

-Refer to Exhibit 2.1, which shows the production for rice and T-shirts for two countries: Costa Rica and the United States. In Costa Rica, the opportunity cost of 1 ton of rice is _____

Question

Exhibit 2.1
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-Refer to Exhibit 2.1, which shows the production for rice and T-shirts for two countries: Costa Rica and the United States. In Costa Rica, the opportunity cost of 1 ton of rice is _____

Quizplus · Accepted Answer

The opportunity cost of producing 1 ton of rice in Costa Rica is equal to the number of T-shirts that could have been produced instead. If Costa Rica can produce 1 ton of rice or 1 T-shirt, the opportunity cost of 1 ton of rice is 1 T-shirt.

Exhibit 2.1 ​

Exhibit 2.1