Palin Inc., an electronics manufacturer, is headquartered in Texas. The firm shifted its operations from Texas to China due to l
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Crusoe's opportunity cost for producing a pound of berries would be 0.4 pounds of fish.
<h3>What is the opportunity cost of the fish?</h3>This can be found as:
= Change in quantity of fish / Change in quantity of berries
Solving gives:
= (30 - 26) / 52 - 42
= 4 / 10
= 0.4 pounds of fish
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The percent change in real GDP is 17.65%
<h3>What is the GDP of an economy?</h3>The gross domestic product (GDP) is the sum of all value contributed to a given economy. The value-added is the difference between the value of the products and services produced and the value of the goods and services required to produce them.
The percent change in real GDP can be calculated by using the formula:
= 17.65%
Learn more about gross domestic product (GDP) here: