Figure 3-1 Paul curt Wheat Wheet 10 Com Com Refer to Figure 3-1. The opportunity cost...

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Figure 3-1 Paul curt Wheat Wheet 10 Com Com Refer to Figure 3-1. The opportunity cost of 2 bushels of corn for Cliff is 12 bu

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Answer 1

Answer #1

Correct answer : option b) : 3 bushels of wheat

Reason : instead of producing 4 units of corn, cliff can produce 6 units of wheat, similarly instead of producing 2 units of corn the amount of wheat will be (6/4) × 2 = 3.

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Figure 3-1 Paul curt Wheat Wheet 10 Com Com Refer to Figure 3-1. The opportunity cost...