Solution-What is the opportunity cost

What is the opportunity cost

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Suppose the Nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots it can make 80 per day. If Arcadia produces only surfboards, it can make 30 per day. What is the opportunity cost of 1 teapot in Arcadia?

A 3/8 of a surfboard

B 8/3 of surfboards

C 30 Surfboards

D 80 surfboards

Reference no: EM131188736

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What is the opportunity cost

Reference no: EM131188736

Reference no: EM131188736

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