In the picture below is the table to the question. The highlighted one is my guess which is wrong.Based on the production table above, what is the opportunity cost of 1 unit of fried in France?A)2 units of fries(this one is wrong)B) 1/3 of a burgerC)3 units of friesD) 1/2 a burger Burgers Produced in 1 hr Fries Produced in 1 hr'Merica 200400France 100300Based on the production table above, what is the opportunity cost of 1 unit of fried in France?2 units of fries1/3 of a burger3 units of friesO 1/2 a burger

Opportunity cost refers to the value of next best alternative among all available options with the…

Burgers Produced in 1 hr Fries Produced in 1 hr 'Merica 200 400 France 100 300 Based on the production table above, what is the opportunity cost of 1 unit of fried in France? 2 units of fries 1/3 of a burger 3 units of fries 1/2 a burger

Burgers Produced in 1 hr Fries Produced in 1 hr 'Merica 200 400 France 100 300 Based on the production table above, what is the opportunity cost of 1 unit of fried in France? 2 units of fries 1/3 of a burger 3 units of fries 1/2 a burger

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter7: Economic Growth: Theory And Policy

Section: Chapter Questions

Problem 4TY

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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

In the picture below is the table to the question. The highlighted one is my guess which is wrong.

Based on the production table above, what is the opportunity cost of 1 unit of fried in France?

A)2 units of fries(this one is wrong)

B) 1/3 of a burger

C)3 units of fries

D) 1/2 a burger

Burgers Produced in 1 hr Fries Produced in 1 hr
'Merica 200
400
France 100
300
Based on the production table above, what is the opportunity cost of 1 unit of fried in France?
2 units of fries
1/3 of a burger
3 units of fries
O 1/2 a burger

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