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could you please explain how to define opportunity cost for the following problem? Q HW 042 18 e X Answered Incorrect Consider the following PPF,

could you please explain how to define opportunity cost for the following problem?

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Q HW 042 18 e X Answered Incorrect Consider the following PPF, which describes a factory's possibilities for producing cell phones or bicycles: Suppose the company is currently producing 10 (thousand) cell phones and 1 (thousand) bicycles, but is considering producing 1 (thousand) additional bikes. What is the opportunity cost (in terms of cell phones) of shifting production this way? Type your response Cell Phones (Thousandsjm (Thousands) @ Done

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