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LenKa [72]
3 years ago
6

What is brad's opportunity cost of producing one pound of beef?

Business
1 answer:
arlik [135]3 years ago
3 0

Answer:

ΔBrad /ΔBeef

Explanation:

Opportunity Cost is the cost of next best alternative forgone while making a choice. Eg : If a school teacher is Rs 20000, he / she could have taken coaching classes & earned Rs 15000, the opportunity cost of school teaching is coaching earnings i.e Rs 15000.

Marginal Opportunity Cost is the quantity of a good sacrifised to gain an additional quantity of another good .

MOC =  Δ good sacrifised /Δ good gained.

MOC (Brad for a Beer) = ΔBrad /ΔBeef    

{∵beef = good sacrifised , brad = good gained}

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