Question

Carlos can produce the following combinations of x and y: 10x and 10y, 5x and 15y, and 0x and 20y. the opportunity cost of one unit of x for carlos is:_________

Answer 1

Carlos can produce the following combinations of x and y: 10x and 10y, 5x and 15y, and 0x and 20y. the opportunity cost of one unit of x for carlos is 1 Y/X

Since,

Opportunity cost ( OC) = What we give up/ What we gain

Therefore,OC x = Give up ( y)

= 15-10

= 5y

Therefore, =5/5

= 1y/x

What is opportunity cost?

• Opportunity cost is the profit that is forfeited when one option is chosen over another. The idea serves merely as a reminder to weigh all viable options before making a choice.
• For instance, let's say you have $1,000,000 and decide to put it into a product line that will yield a 5% return. Opportunity cost might not always include financial resources.
• Opportunity cost is a concept that is sometimes difficult to properly quantify at the moment of decision-making. Instead, the decision-maker may only make approximations of the results of different alternatives, which means that incomplete information may result in an opportunity cost that won't be apparent until after the fact.

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