Refer to Table 2.1. For Mark, the opportunity cost of writing one TV commercial is

A) 1/3 of a poem.
B) 2 poems.
C) 3 poems.
D) 8 poems.

Question

Refer to Table 2.1. For Mark, the opportunity cost of writing one TV commercial isA)  1/3 of a poem.B)  2 poems.C)  3 poems.D)  8 poems.

Aditi Aggarwal · Accepted Answer

Final Answer : C, Explanation :  Mark's opportunity cost of writing one TV commercial is the amount of another good (poems) that must be given up to produce it. Since Mark can write 12 poems or 4 TV commercials, the opportunity cost of 1 TV commercial is 12 poems / 4 TV commercials = 3 poems.

Refer to Table 2.1. For Mark, the opportunity cost of writing one TV commercial is

A) 1/3 of a poem.
B) 2 poems.
C) 3 poems.
D) 8 poems.

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