Suppose a gardener produces both green beans and corn in her garden.If she must give up 15 bushels of corn to get 5 bushels of green beans,what is the opportunity cost of 1 bushel of green beans
A)1/3 bushel of corn
B)3 bushels of corn
C)8 bushels of corn
D)18 bushels of corn

Question

Quizplus · Accepted Answer

The opportunity cost of 1 bushel of green beans is how many bushels of corn must be given up to produce it. Since the gardener must give up 15 bushels of corn to produce 5 bushels of green beans, the opportunity cost of 1 bushel of green beans is 3 bushels of corn (15/5=3). Therefore, the correct answer is B.

Suppose a Gardener Produces Both Green Beans and Corn in Her