Table 3-5

-Refer to Table 3-5.The opportunity cost of 1 car for the United States is
A)4 airplanes.
B)3 airplanes.
C)1/3 airplane.
D)1/4 airplane.

Name: Table 3-5 -Refer to Table 3-5.The opportunity cost of 1 car for the United States is A)4 airplanes. B)3 airplanes. C)1/3 airplane. D)1/4 airplane.
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Question

Table 3-5
 
-Refer to Table 3-5.The opportunity cost of 1 car for the United States is
A)4 airplanes. 
B)3 airplanes. 
C)1/3 airplane. 
D)1/4 airplane.

Quizplus · Accepted Answer

The opportunity cost of 1 car is the amount of airplanes that could have been produced instead. If the U.S. can produce 4 airplanes for every car, then the opportunity cost of 1 car is 1/4 airplane.

Table 3-5 -Refer to Table 3-5.The Opportunity Cost of 1 Car for of 1