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The following table shows the hurly output per worker for Greece and Italy measured as quarts of olive oil and pound of pasta.. Calculate the opportunity cost of producing olive oil and pasta in both Greece and Italy. (In textbook it is Problem 2.7 page 244 in 7th ed: Problem 2.6 in 6th ed) Output per Hour of Work January 3-11 Olive Oil Pasta Greece o.5 pasta 2 olive oil JANUARY 12- tal ly 2 pasta 5 olive oil ( pages may Submission status 11:05 PM

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of Paute For 1ta astaSummary - Opportunity cost is nothing but the amount sacrificed to produce the product. If one hour of time is available and you chose to produce Pasta, then opportunity cost is amount of olive oil sacrificed in order to produce one hour time of Pasta.

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