Figure 2-2 above shows the production possibilities frontier for Mendonca,an agrarian nation that produces two goods,meat and vegetables.
-Refer to Figure 2-2.What is the opportunity cost of one pound of vegetables?

Question

Quizplus · Accepted Answer

The opportunity cost of one pound of vegetables is the amount of meat that must be given up to produce that one pound of vegetables. In this case, the opportunity cost is $\frac { 3 } { 4 }$ pound of meat.

Figure 2-2 Above Shows the Production Possibilities Frontier for Mendonca,an 34\frac { 3 } { 4 }43​

Figure 2-2 Above Shows the Production Possibilities Frontier for Mendonca,an $\frac { 3 } { 4 }$