Question
The opportunity cost of increasing production from 4 to 9 boat is 5 trucks. Therefore, the opportunity cost represents a. the relative value of boats
The opportunity cost of increasing production from 4 to 9 boat is 5 trucks. Therefore, the opportunity cost represents
a. the relative value of boats in terms of trucks
b. the trade-off between boats and trucks
c. a measure to determine production comparative advantage
d. all of the above
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Economics Today The Macro View
Authors: Roger LeRoy Miller
20th Edition
0135888689, 9780135888681
