Use the following scenario to answer thefollowing questions:
An economy has two workers,Smith and Ricardo.Each day they work,Smith can produce 4 computers or 16 smartphones,and Ricardo can produce 6 computers or 12 smartphones.
-The opportunity cost for Ricardo to produce one smartphone is ________ computer(s).

Question

Quizplus · Accepted Answer

Ricardo can produce 6 computers or 12 smartphones in a day. Therefore, the opportunity cost of producing one smartphone is the number of computers he could have produced instead. Since 12 smartphones are equivalent to 6 computers, producing one smartphone costs Ricardo 0.5 (or one-half) of a computer.

Use the Following Scenario to Answer Thefollowing Questions