The United Kingdom must give up the production of 300 motorcycles to produce 15 additional convertible Jaguars with the same resources. The opportunity cost of producing 100 motorcycles is _____ convertible Jaguar(s).

Question

Quizplus · Accepted Answer

If the UK gives up the production of 300 motorcycles, they can produce 15 additional Jaguars. Therefore, the opportunity cost of producing 100 motorcycles is 5 convertible Jaguars (i.e. 300/100*15=45; 45/3=15; 15*0.33=5). This means that the UK could produce either 100 motorcycles or 5 Jaguars. As the question doesn't ask for the best choice between motorcycles and Jaguars, it is not possible to provide a definitive answer. However, if the question required a decision between producing motorcycles or Jaguars, the best choice would depend on market demand, production costs, and potential profits.

The United Kingdom Must Give Up the Production of 300