Use the following scenario to answer the questions that follow.
Amy can produce either 5,000 pounds of cheese or 20 houses per year. Jim can produce either 5,000 pounds of cheese or 10 houses per year.
-Jim's opportunity cost of producing one house is ________ pound(s) of cheese.
A) 1/250
B) 1/20
C) 20
D) 250
E) 500
Correct Answer:
Verified
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