Asked by
Kendra Mills
on Dec 17, 2024
Verified
Refer to Table 3-12. India's opportunity cost of producing bananas is
A) 0.5 units of maize.This is lower than Indonesia's opportunity cost of producing bananas.
B) 2.5 units of maize.This is higher than Indonesia's opportunity cost of producing bananas.
C) 2/5 units of maize.This is lower than Indonesia's opportunity cost of producing bananas.
D) 0.5 units of maize.This is higher than Indonesia's opportunity cost of producing bananas.
Opportunity Cost
Opportunity cost is the value of the next best alternative forgone as a result of making a decision.
Bananas
A curved, yellow fruit that is rich in potassium and can be eaten raw or used in cooking and baking.
- Determine opportunity costs and pinpoint comparative advantages using specified data.
Verified Answer
JG
Learning Objectives
- Determine opportunity costs and pinpoint comparative advantages using specified data.