If the farm uses its resources efficiently, what is the opportunity cost of an increase in chicken

Question:

If the farm uses its resources efficiently, what is the of an increase in chicken production from 300 pounds to 500 pounds a year? Explain your answer.

Use the table, which shows a farm€™s production possibilities,

Soybean (bushels Chicken (pounds per year) per year) 500 and 300 400 and 200 and 500 and 550

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...