The Opportunity Cost of Producing One More Unit of a Good

question 16

Multiple Choice

The opportunity cost of producing one more unit of a good is calculated by dividing the

• A) total quantity of that good by the total quantity of other good.
• B) total quantity of the other good by the total quantity of the good whose opportunity cost we're calculating.
• C) price of the good whose opportunity cost we are calculating by the number of units of the other good that are forgone.
• D) increase in the quantity of that good by the decrease in the quantity of other good.
• E) decrease in the quantity of the other good by the increase in the quantity of the good whose opportunity cost we're calculating.

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Definitions:

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