Table 3-1

-Refer to Table 3-1.What is the opportunity cost of 1 kg of meat for the farmer
A)1/3 hour of labour
B)3 hours of labour
C)3 kg of potatoes
D)1/3 kg of potatoes

Name: Table 3-1 -Refer to Table 3-1.What is the opportunity cost of 1 kg of meat for the farmer A)1/3 hour of labour B)3 hours of labour C)3 kg of potatoes D)1/3 kg of potatoes
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Question

Table 3-1
 
-Refer to Table 3-1.What is the opportunity cost of 1 kg of meat for the farmer
A)1/3 hour of labour 
B)3 hours of labour 
C)3 kg of potatoes 
D)1/3 kg of potatoes

Quizplus · Accepted Answer

The opportunity cost of 1 kg of meat for the farmer is 3 kg of potatoes, as the farmer must give up producing 3 kg of potatoes to produce 1 kg of meat.

Table 3-1 -Refer to Table 3-1.What Is the Opportunity Cost of 1