The opportunity cost of the U.S.producing tea or coffee is measured by the value of the foregone production alternative-manufacturing or staples.

Name: The opportunity cost of the U.S.producing tea or coffee is measured by the value of the foregone production alternative-manufacturing or staples.
Brand: Quizplus
Rating: 4.8 (49 reviews)

Question

Quizplus · Accepted Answer

The opportunity cost is the value of the alternative forgone, which in this case would be the production of other goods such as manufacturing or staples. Therefore, the statement is true.

The Opportunity Cost of the U