Refer to Table 3-2. What is the opportunity cost of 1 kilogram of meat for the farmer? Select one: O a. 4 kilograms of potatoes O b. 1/4 kilogram of potatoes O c. 4 hours of labour O d. 1/4 hour of labour

Refer to Table 3-2. What is the opportunity cost of 1 kilogram of meat for the farmer? Select one: O a. 4 kilograms of potatoes O b. 1/4 kilogram of potatoes O c. 4 hours of labour O d. 1/4 hour of labour

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

30)

Table 3-2
Labour hours
needed to make 1
kilogram:
Meat
Kilograms produced
in 40 hours:
Potatoes
Meat
Potatoes
Farmer
Rancher
1
10
40
14
10
8
Refer to Table 3-2. What is the opportunity cost of 1 kilogram of meat for the farmer?
Select one:
4 kilograms of potatoes
cross out
O b. 1/4 kilogram of potatoes
cross out
O c. 4 hours of labour
cross out
O d. 1/4 hour of labour
cross out

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