Suppose a gardener produces both green beans and corn in her garden.If the opportunity cost of one bushel of corn is 2/3 bushel of green beans,what is the opportunity cost of 1 bushel of green beans
A)2/5 bushel of corn
B)8/5 bushels of corn
C)3/2 bushels of corn
D)5/3 bushels of corn

Question

Quizplus · Accepted Answer

Since the opportunity cost of one bushel of corn is 2/3 bushel of green beans, we can find the opportunity cost of one bushel of green beans by taking the reciprocal of 2/3, which is 3/2. Therefore, the best choice is C) 3/2 bushels of corn.

Suppose a Gardener Produces Both Green Beans and Corn in Her