Hello, I have a question regarding the microeconomics course: "what are the opportunity costs (alternative costs) of 2 additional B units when producing 33 A and 56 B units?" The question needs to be calculated and answered using the table created in ms Excel (I'll put it here). Of course, the explanation for how you got the answer and the steps you took would be necessary.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Hello, I have a question regarding the microeconomics course: "what are the opportunity costs (alternative costs) of 2 additional B units when producing 33 A and 56 B units?" The question needs to be calculated and answered using the table created in ms Excel (I'll put it here). Of course, the explanation for how you got the answer and the steps you took would be necessary.

Qa
33
38
43
48
53
Qb
58
56
52
46
38
Transcribed Image Text:Qa 33 38 43 48 53 Qb 58 56 52 46 38
Expert Solution
Step 1

Opportunity cost is generally the value of the next best alternative foregone while making a decision.

Mathematically, it is calculated by the following method:

Opportunity cost= Units of goods foregone/ Units of goods gained

 

 

 

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