Answered: Based on the graph below , the…

Based on the graph below , the opportunity cost of producing at point C instead of A is ______________ units of beer. Note point A = 195 units of beer.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 14RQ: What is an externality?

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Concept explainers

Opportunity Cost Analysis

Opportunity cost refers to the loss of potential benefits when choosing one alternative over another. It is the tradeoff a person makes, or the potential gains they miss out on, because of their choice. To analyze opportunity cost, we must consider the benefits and tradeoffs of each available option.

Question

(3). Based on the graph below , the opportunity cost of producing at point C instead of A is ______________ units of beer. Note point A = 195 units of beer.

Beer
200
180
20
120
40
Production possibility curve
B
-
----
1
50
| |
H
「
|
100
150
200
Wine

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