What is the opportunity cost (amount & item) of the first 8,000 tons of bananas produced? ______________ What is the opportunity cost (amount & item ) of increasing production from 8,000 tons of bananas to 14,000 tons of bananas ? _________________ What is the opportunity cost (amount & item) of increasing production from 14,000 tons of bananas to 18,000 tons of bananas ? _________________
Suppose that the nation of Costa Rica produces Coffee and Bananas. Below are the possible combinations of Coffee and Bananas that Costa Rica can produce.
|
Combination |
Bananas metric tons (X axis) |
Coffee metric tons (Y axis) |
|
A |
20,000 |
0 |
|
B |
18,000 |
11,000 |
|
C |
14,000 |
20,000 |
|
D |
8,000 |
27,000 |
|
E |
0 |
30,000 |
What is the
What is the opportunity cost (amount & item ) of increasing production from 8,000 tons of bananas to 14,000 tons of bananas ? _________________
What is the opportunity cost (amount & item) of increasing production from 14,000 tons of bananas to 18,000 tons of bananas ? _________________
What is the opportunity cost (amount & item) of increasing production from 18,000 tons of bananas to 20,000 tons of bananas ? _________________
What is happening to the opportunity cost as Costa Rica produces more bananas? ______________________
What is the opportunity cost (amount & item) of the first 11,000 tons of coffee produced? ______________________
What is the opportunity cost (amount & item) of increasing production from 11,000 tons of coffee to 20,000 tons of coffee ? ________________
What is the opportunity cost (amount & item )of increasing production from 20,000 tons of coffee to 27,000 tons of coffee? _____________
What is the opportunity cost (amount & item) of increasing production from 27,000 tons of coffee to 30,000 tons of coffee ? ________________
What is happening to the opportunity cost as Costa Rica produces more coffee ? _____________
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