Asked by
Lauren Hancock
on Dec 17, 2024
Verified
Refer to Figure 2-10. The opportunity cost of moving from point B to point A is zero.
Opportunity Cost
The foregone benefit that could have been enjoyed if an alternative choice had been made.
- Become familiar with the production possibilities frontier and what it implies.
- Gain an understanding of the idea of opportunity cost as it pertains to the production possibilities frontier.
Verified Answer
KV
Learning Objectives
- Become familiar with the production possibilities frontier and what it implies.
- Gain an understanding of the idea of opportunity cost as it pertains to the production possibilities frontier.