Once You Find the Opportunity Cost of Producing One Unit

question 14

Multiple Choice

Once you find the opportunity cost of producing one unit of a good, to find the opportunity cost of producing the other good, you must

• A) take the inverse.
• B) multiply by the total amount produced of the second good.
• C) divide by the total amount produced of the second good.
• D) do nothing because the opportunity cost for the first good is the same as the opportunity cost for the second good.
• E) None of the answers are correct.

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Definitions:

Marginal Utility

The additional satisfaction or utility that one receives from consuming one more unit of a good or service.

Donut

A fried dough confection or dessert food, usually ring-shaped or without a hole and filled with various sweet fillings or toppings.

Total Utility

The total satisfaction or benefit received from consuming a particular quantity of a good or service.

Donuts

A sweet, fried or baked pastry, often circular with a hole in the middle, available in various flavors and toppings.