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An artist was producing 4 paintings and 5 sculptures a month. She is now producing 3 sculptures and 7 paintings instead. The price of each
An artist was producing 4 paintings and 5 sculptures a month. She is now producing 3 sculptures and 7 paintings instead. The price of each painting is $5000 and the price of each sculpture is $3000. What is the opportunity cost of a painting? Does the painter have a high or low opportunity cost (OC) given the new change? Explain your answer thoroughly.
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