If the United States, at the Point Where It Is

question 2

Multiple Choice

If the United States, at the point where it is currently producing, must give up the production of 500 bicycles (B) to produce 20 additional tractors (T) with the same resources, the opportunity cost of producing 100 bicycles is _______ tractor(s) .

• A) 1
• B) 4
• C) 25
• D) 100

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Definitions:

Currency

A system of money in general use in a particular country, used as a medium of exchange for goods and services.

Prosperous Trade Center

A city or region that thrives economically due to its strategic location for trade, typically rich in resources or goods exchange.

Mesopotamia

An ancient region located in the eastern Mediterranean, bounded by the Tigris and Euphrates rivers, known as the cradle of civilization for its early developments in writing, law, and urbanization.

Patents

Legal documents granting an inventor exclusive rights to produce, use, and sell their invention for a certain period of time.