Table 3-1

-Refer to Table 3-1.What is the opportunity cost of 1 kg of potatoes for the farmer
A)9 hours of labour
B)3 hours of labour
C)3 kg of meat
D)1/3kg of meat

Question

Table 3-1
 
-Refer to Table 3-1.What is the opportunity cost of 1 kg of potatoes for the farmer
A)9 hours of labour 
B)3 hours of labour 
C)3 kg of meat 
D)1/3kg of meat

Quizplus · Accepted Answer

The opportunity cost of 1 kg of potatoes is the amount of meat that could have been produced instead. If 3 kg of meat is equivalent to the production of 1 kg of potatoes, then the opportunity cost is 1/3 kg of meat.

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