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Maryam Bintumar
on Oct 26, 2024

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(Figure: Omar's Production Possibilities) Use Figure: Omar's Production Possibilities.The opportunity cost for Tom to move from point A on the curve to point B is:

A) 10 coconuts.
B) 10 fish.
C) 5 coconuts.
D) 5 fish.

Opportunity Cost

The cost of missing out on the second best choice while making a decision.

Coconuts

Tropical fruits with a hard outer shell, edible white flesh, and clear liquid inside, often used in cooking and as a beverage.

Fish

Aquatic animals that are typically covered with scales and have gills, commonly harvested as food or kept as pets.

  • Apply the theory of opportunity cost in the process of deciding how to distribute resources.
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JB
Jaydynn BrennerNov 01, 2024
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