Using all available resources,if a farmer can produce either 85 cantaloupes or 70 watermelons,what is the opportunity cost of 1 cantaloupe to the farmer?
A)0.82 watermelons
B)1.21 watermelons
C)1.50 watermelons
D)2.00 watermelons

Question

Quizplus · Accepted Answer

The opportunity cost of 1 cantaloupe is the number of watermelons that must be forgone to produce it. The farmer can produce 85 cantaloupes or 70 watermelons. Therefore, the opportunity cost of 1 cantaloupe is 70/85 = 0.82 watermelons.

Using All Available Resources,if a Farmer Can Produce Either 85