Exhibit 29-1 -According to the Data in Exhibit 29-1, the Opportunity Cost

question 170

Multiple Choice

Exhibit 29-1
-According to the data in Exhibit 29-1, the opportunity cost of producing one more unit of good B in China is

• A)3 units of good A.
• B)1/3 unit of good A.
• C)2 units of good A.
• D)1/2 unit of good A.
• E)10 units of good A.

---

Definitions:

Existing Products

Goods or services that are currently available to consumers.

Technological Advance

The process of developing new and improved methods, tools, or systems that increase productivity, efficiency, or solve existing problems.

Modern View

A contemporary perspective or understanding often reflecting recent developments or ideas.

Traditional View

A perspective or approach that is based on long-established ways of thinking or doing something.