Figure 2-2.

-Refer to Figure 2-2.What is the opportunity cost of one pound of meat?

Question

Figure 2-2. 
 
-Refer to Figure 2-2.What is the opportunity cost of one pound of meat?

Quizplus · Accepted Answer

The opportunity cost of one pound of meat is the amount of potatoes that must be given up to produce one pound of meat. In this case, for one pound of meat, 20 pounds of potatoes must be given up. Option B shows that with 20 pounds of potatoes, one can produce 1 pound of meat and still have 18 pounds of potatoes left, which is the best choice.

Figure 2-2. -Refer to Figure 2-2.What Is the Opportunity Cost of One