The table below shows the production possibilities of Country $\mathrm{X}$ for two goods.
\begin{tabular}{ll}
Apples (tons) & Wool (bales) \
\hline 500 & 0 \
400 & 4,000 \
300 & 8,000 \
200 & 12,000 \
100 & 16,000 \
0 & 20,000
\end{tabular}

What is the opportunity cost of one ton of apples in Country X?
Choose 1 answer:
(A) 4,000 bales of wool
(B) 100 bales of wool
(C) 40 bales of wool
(D) 250 bales of wool
(E) 0.025 bales of wool
Related content
Opportunity cost

Question

The table below shows the production possibilities of Country $\mathrm{X}$ for two goods.
\begin{tabular}{ll} 
Apples (tons) & Wool (bales) \
\hline 500 & 0 \
400 & 4,000 \
300 & 8,000 \
200 & 12,000 \
100 & 16,000 \
0 & 20,000
\end{tabular}

What is the opportunity cost of one ton of apples in Country X?
Choose 1 answer:
(A) 4,000 bales of wool
(B) 100 bales of wool
(C) 40 bales of wool
(D) 250 bales of wool
(E) 0.025 bales of wool
Related content
Opportunity cost

Accepted Answer

***C*** ∻Key Concept∻ ⚹Opportunity Cost⚹ ∻Explanation∻ ⚹Opportunity cost is the value of the next best alternative foregone as the result of making a decision. In this case, it is the amount of wool that could have been produced instead of producing an additional ton of apples. From the table, the opportunity cost of increasing apple production from 300 to 400 tons (a difference of 100 tons) is a decrease in wool production from 8,000 to 4,000 bales (a difference of 4,000 bales). Therefore, the opportunity cost of one ton of apples is 4,000 bales divided by 100 tons, which equals 40 bales of wool per ton of apples.⚹◊What is the formula to calculate opportunity cost in Country X for one ton of apples?⍭ Generate me a similar question◊

Sia