Assume the U.S. currently grows 2.7 million tons of fresh winter fruit and that the resources absorbed in the production of this fruit could have produced 225,000 laptop computers. Therefore, the opportunity cost of those 2.7 million tons of fruit is ____ computers.

Assume the U.S. currently grows 2.7 million tons of fresh winter fruit and that the resources absorbed in the production of this fruit could have produced 225,000 laptop computers. Therefore, the opportunity cost of those 2.7 million tons of fruit is ____ computers.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 9SQP

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Production Possibility Analysis

The production possibility analysis comprises the production possibility frontier (PPF), or the production possibility curve (PPC) to evaluate a society or even an economy. The production possibility curve represents the cost that the society has to incur for choosing between two different commodities. It is assumed that an economy that operates at the highest production possibility curve is known to have a better standard of living which the society can achieve for producing the optimum level of output which it can produce given a specified number of factors of production or inputs or resources.

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