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Roy owns a vineyard and is considering what to produce with his grapes. He can either produce red wine or grape juice (both measured inlitres).
Roy owns a vineyard and is considering what to produce with his grapes. He can either produce red wine or grape juice (both measured inlitres). Shown below is Roy's production possibilities curve for his farm which is 250 squaremetres.
What is his opportunity cost of producing 1litreof wine?Answer to the nearest two decimal places. [a] litres of juice.
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