Use the given production possibilities curve (PPC) to answer the following question. A city government received a $1$1 million grant to build swimming pools and skating rinks for youth. Based on the data provided in the graph, what is the opportunity cost of building one swimming pool? A. 0.50 skating rink B. 0.50 swimming pool C. 2 skating rinks D. 2 swimming pools E. 5 skating rinks

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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.