Exhibit 2-2 Production possibilities curve Corn (millions of bushels) 10 8 6 4 2 0 1 1 T 1 1 1 1--1 ·1▬▬+−1- 1 E B 3 Coffee (millions of bushels) 2 4 5 4 In Exhibit 2-2, the opportunity cost of coffee when moving from A to B is: Oa.8 million bushels of corn.

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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.