The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn.

Question

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5
 
-If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn.

Quizplus · Accepted Answer

The opportunity cost of producing 1 bushel of wheat is 2 bushels of corn, since producing 1 bushel of wheat means giving up the production of 2 bushels of corn, based on the given production possibilities.

The Table Below Shows the Quantity Demanded (In Thousands) and Quantity