The following economy produces two products. Refer to the above table.The marginal opportunity cost of the third unit of steel is:
A) 10 units of wheat.
B) 15 units of wheat.
C) 20 units of wheat.
D) 30 units of wheat. If this economy goes from 2 units of steel to 3,then it must give up 20 units of wheat.

Question

The following economy produces two products.  Refer to the above table.The marginal opportunity cost of the third unit of steel is:
A) 10 units of wheat. 
B) 15 units of wheat. 
C) 20 units of wheat. 
D) 30 units of wheat. If this economy goes from 2 units of steel to 3,then it must give up 20 units of wheat.

Quizplus · Accepted Answer

The Answer of The following economy produces two products.  Refer to the above table.The marginal opportunity cost of the third unit of steel is:
A) 10 units of wheat. 
B) 15 units of wheat. 
C) 20 units of wheat. 
D) 30 units of wheat. If this economy goes from 2 units of steel to 3,then it must give up 20 units of wheat.

The Following Economy Produces Two Products