Exhibit 2.3

-Refer to Exhibit 2.3, which shows the production possibilities frontier for education and food. The opportunity cost of moving from point c to point b is _____

Question

Exhibit 2.3
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-Refer to Exhibit 2.3, which shows the production possibilities frontier for education and food. The opportunity cost of moving from point c to point b is _____

Quizplus · Accepted Answer

Moving from point c to point b on a production possibilities frontier typically involves sacrificing some quantity of one good to gain more of another. The opportunity cost is the amount of the good forgone. In this case, without the specific values from Exhibit 2.3, the correct answer relies on understanding that moving towards more education (from c to b) would typically reduce the quantity of food produced, indicating a trade-off. Since the question asks for the opportunity cost in terms of education, the correct choice would be the one that specifies units of education.

Exhibit 2.3 ​

Exhibit 2.3