If Britain, at the point where it is currently producing, must give up the production of 75 hats to produce 25 additional sweaters, the opportunity cost of producing 3 hats is _______ sweater(s).

Question

Quizplus · Accepted Answer

The opportunity cost of producing 3 hats is calculated by dividing the number of hats by the number of sweaters (75 hats / 25 sweaters = 3 hats per sweater). Therefore, for 3 hats, the opportunity cost is 1 sweater.

If Britain, at the Point Where It Is Currently Producing