Suppose that in one hour Dewey can produce either 10 bushels of corn or 20 yards of cloth.Then Dewey's opportunity cost of producing one bushel of corn is 1/2 yard of cloth.

Name: Suppose that in one hour Dewey can produce either 10 bushels of corn or 20 yards of cloth.Then Dewey's opportunity cost of producing one bushel of corn is 1/2 yard of cloth.
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Question

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The opportunity cost of producing one bushel of corn is 2 yards of cloth, as Dewey foregoes producing 20 yards of cloth to produce 10 bushels of corn.

Suppose That in One Hour Dewey Can Produce Either 10