Yards of A Cloth 1000 a B 800 600 400 200 0 eg 500 According to this figure, the opportunity cost of producing 400 yards of cloth instead of 200 yards of cloth is 75 bushels of corn. 750 bushels of corn. 250 bushels of corn. .h 975 bushels of corn. 750 900 11000 Rusha

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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.