Refer to the information provided in Table 18.1 below to answer the questions that follow.
Table 18.1
-Refer to Table 18.1. In Guatemala, the opportunity cost of 1 bushel of oranges is

Question

Refer to the information provided in Table 18.1 below to answer the questions that follow.
Table 18.1 
-Refer to Table 18.1. In Guatemala, the opportunity cost of 1 bushel of oranges is

Quizplus · Accepted Answer

The opportunity cost of producing 1 bushel of oranges in Guatemala is the amount of bananas that could have been produced instead. If the table (not provided here) shows that Guatemala can produce oranges and bananas at a certain rate, the opportunity cost is calculated by comparing the production rates. If, for example, Guatemala can produce 2 bushels of bananas for every 1 bushel of oranges, then the opportunity cost of 1 bushel of oranges is 2 bushels of bananas.

Refer to the Information Provided in Table 18