rabGuid-Q4PILCE Aplias Student Question C2 The Opportunity Cost Of Shi Graph 20
ID: 1112459 • Letter: R
Question
rabGuid-Q4PILCE Aplias Student Question C2 The Opportunity Cost Of Shi Graph 20 0 80 60 20 10 400 4 560 640 Supose tte Konumr initially 0duces 13,000 pounds od food and 400,000 tens or steel·which us represented by point producing an additional 5,000 pounds ot food tthat is, movino oroduction to point is The opportunity cost of suppose. Instead, that thie economy cumnlly produces 336,000 tons af sleal and 20.000 pounds of food. which is represented by poire B. Now the opportinity cost of preduing an addtional 5,000 pounds of food (that i, moving to point C) b paragraphs, yoa can see that the oepertunity sost of s,oo0 addtdonal pounds of foed at poire i see Cemparing your anewers in the two previous paragrapha, ys the opportunity cost o 5,000 additional pounds of food at point A. This rollects the OiExplanation / Answer
Opportunity cost = (5000 /(400000-336000)) = 5000/64000
=5000/64 tons of steel
= 78.125 tons of steel
Opportunity cost = 5000/(336000-240000) = 5000/96000
= 5000/96 tons of steel
= 52.08 tons of steel.
Less. This reflects diminishing marginal returns.
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