In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S....

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In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S. can produce 30 bushels of wheat. What is the oppor

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Answer 1

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Ans. In 10 hours, the US can produce 35 bushels of corn

In 1 hour, the US can produce 3.50 bushels of corn

In 7 hours, the US can produce 30 bushels of wheat

In 1 hour, the US can produce 4.29 bushels of corn

Now, The opportunity cost of producing 1 bushel of Corn

3.50 bushels of corn - 4.29 bushels of wheat

1 bushel of corn - 4.29/ 3.50 bushels of wheat

1 bushel of corn - 1.23 bushels of wheat

hence, the opportunity cost of 1 bushel of corn is 1.23 bushels of wheat.

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In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S....

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In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S....

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