The following table shows per-day production data of rice and T-shirts for two countries, Cambria and Bodoni. Based on the table, it can be said that the opportunity cost of 1 T-shirt in Cambria isTable 19.1CambriaBodoniTons of riceT-shirts perTons of riceT-shirts perper daydayper dayday2010018809010016160802001424070300123206040010400505008.480406006.5603070064020800720109008001000a. 4 tons of riceb. 2 tons of ricec. 0.025 ton of riced. 0.5 ton of ricee. 0.75 ton of rice

Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

The following table shows per-day production data of rice and T-shirts for two countries, Cambria and Bodoni. Based on the table, it can be said that the opportunity cost of 1 T-shirt in Cambria is Table 19.1 Cambria Bodoni T-shirts per day T-shirts per day Tons of rice Tons of rice per day per day 20 100 18 80 90 100 16 160 80 200 14 240 70 300 12 320 60 400 10 400 50 500 8 480 40 600 560 30 700 4 640 20 800 720 10 900 800 1000 O a. 4 tons of rice O b.2 tons of rice O .0.025 ton of rice O d. 0.5 ton of rice O e. 0.75 ton of rice

The following table shows per-day production data of rice and T-shirts for two countries, Cambria and Bodoni. Based on the table, it can be said that the opportunity cost of 1 T-shirt in Cambria is Table 19.1 Cambria Bodoni T-shirts per day T-shirts per day Tons of rice Tons of rice per day per day 20 100 18 80 90 100 16 160 80 200 14 240 70 300 12 320 60 400 10 400 50 500 8 480 40 600 560 30 700 4 640 20 800 720 10 900 800 1000 O a. 4 tons of rice O b.2 tons of rice O .0.025 ton of rice O d. 0.5 ton of rice O e. 0.75 ton of rice

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.5P

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