Asked by
Taleya James
on Oct 25, 2024
Verified
Britain must give up the production of 75 hats to produce 25 additional sweaters.The opportunity cost of producing 4 sweaters is _____ hats.
A) 4
B) 12
C) 71
D) 79
Hats
A headwear item designed for various purposes including protection from weather, ceremonial reasons, religious reasons, safety, or fashion.
Production
The method of integrating different physical and non-physical inputs, such as materials and ideas, to produce goods for use.
- Become familiar with the concept of opportunity cost amidst different trade-offs and how to determine its value in various contexts.
Verified Answer
CD
Learning Objectives
- Become familiar with the concept of opportunity cost amidst different trade-offs and how to determine its value in various contexts.
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