Figure 16-3
Quantities of goods that can be produced in one day with available resources:

-In Figure 16-3,the opportunity cost in Costa Rica of producing one additional bicycle is
A)10 rugs
B)20 rugs
C)4 rugs
D)5 rugs
E)1/5 of a rug

Question

Figure 16-3
Quantities of goods that can be produced in one day with available resources:
 
-In Figure 16-3,the opportunity cost in Costa Rica of producing one additional bicycle is
A)10 rugs 
B)20 rugs 
C)4 rugs 
D)5 rugs 
E)1/5 of a rug

Quizplus · Accepted Answer

The opportunity cost of producing one additional bicycle in Costa Rica is 5 rugs, as it represents the number of rugs that must be forgone to produce one more bicycle.

Figure 16-3 Quantities of Goods That Can Be Produced in One Day