Asked by Ernesto Mejia on May 30, 2024
Verified
If Japan must give up the production of 75 computers to produce 25 additional cellular telephones,the opportunity cost of producing 4 cellular telephones is _____ computers.
A) 4
B) 12
C) 71
D) 79
Opportunity Cost
The price paid for not selecting the immediate next favorable choice during decision-making.
Cellular Telephones
Portable devices that use wireless communication to make and receive phone calls as well as access other services like texting and internet browsing.
Japan
A country in East Asia known for its significant contributions to technology, culture, and the global economy.
- Attain an insight into the idea of opportunity cost within various trade-offs and its determination in assorted scenarios.
Verified Answer
MR
Madeline RichardsJun 02, 2024
Final Answer :
B
Explanation :
To produce 25 additional cellular telephones, Japan must give up the production of 75/3 = 25 computers. Therefore, the opportunity cost of producing 1 cellular telephone is 1 computer.
To produce 4 cellular telephones, the opportunity cost would be 4 computers. Thus, the correct answer is B) 12 computers.
To produce 4 cellular telephones, the opportunity cost would be 4 computers. Thus, the correct answer is B) 12 computers.
Learning Objectives
- Attain an insight into the idea of opportunity cost within various trade-offs and its determination in assorted scenarios.