Question

What is the opportunity cost for the Congo to produce diamonds?

Answer 1

The opportunity cost for the Congo to produce additional diamonds is C. 4 thousand units of corn.

What are opportunity costs?

Opportunity costs are the benefits of an alternative decision when the decision maker rejects the alternative.

For instance, the opportunity cost of going to college is the earnings forgone.

The opportunity cost is computed as the lost benefit when an alternative decision is not pursued.

Fractionally, the opportunity cost of producing one product A) to another (B) = Units of B / Units of A.

Data and Calculations:

United States opportunity cost to produce diamonds = 60/10 = 6

United States opportunity cost to produce corns = 10/60 = 1/6

Congo's opportunity cost to produce diamonds = 20/5 = 4

Congo's opportunity cost to produce corn = 5/20 = 1/4

Thus, the opportunity cost for the Congo to produce additional diamonds is C. 4 thousand units of corn.

Learn more about opportunity costs at brainly.com/question/481029

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