i know the answer is 2, because of the answer key. However, i do not understand why. Why is the 2nd unit of pizza opportunity cost 2 robots? ### Figure 1.2 Explanation**Graph Description:**This graph illustrates a Production Possibilities Curve (PPC), labeled $ABCDE$, showing the trade-off between two goods: pizzas (in hundreds of thousands) on the horizontal axis and industrial robots (in thousands) on the vertical axis.- **Bowed Shape:** The curve is bowed outwards, indicating increasing opportunity costs.- **Attainable Region:** The area under or on the curve, including points $A$, $B$, $C$, $D$, and $E$, represents combinations of the two goods that can be produced given available resources and technology.- **Unattainable Region:** The area above the curve, such as point $W$, represents output combinations that cannot be achieved with current resources.**Quick Quiz for Figure 1.2:**1. **Question:** Production possibilities curve $ABCDE$ is bowed out from the origin because: - **Options:** - a. The marginal benefit of pizzas declines as more pizzas are consumed. - b. The curve gets steeper as we move from $E$ to $A$. - c. It reflects the law of increasing opportunity costs. - d. Resources are scarce. - **Answer:** c2. **Question:** The marginal opportunity cost of the second unit of pizza is: (No options or answers provided in the text)This educational content helps illustrate fundamental economic concepts related to production efficiency and opportunity costs.

Opportunity cost is the benefit that is lost when a different option is chosen. You must balance the…

Answered: 2. The marginal opportunity cost of the…

Business

Economics

2. The marginal opportunity cost of the second unit of pizza is:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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