Table 3-2 -Refer to Table 3-2. for Lee the Opportunity Cost of the Opportunity

question 4

Multiple Choice

Table 3-2

-Refer to Table 3-2. For Lee the opportunity cost of one kg of rice is:

• A) 4/3 kg of butter
• B) 3/4 kg of butter
• C) 2/3 kg of butter
• D) 3/2 kg of butter

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Definitions:

Consumers

are individuals or entities that use goods and services generated within the economy.

Government Subsidy

Financial support given by the government to businesses, individuals, or other governmental bodies to encourage production and consumption, reduce inequalities, or support economic activities deemed beneficial for society.

Product Supply

The total amount of a product or service that is available for purchase at any given time or price.

Oil Declines

A reduction in the price or availability of oil, often due to changes in supply, demand, or geopolitical factors.