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RSB [31]
3 years ago
14

A farmer has the ability to grow either corn or cotton or some combination of the two. Given no other information, it follows th

at the farmer’s opportunity cost of a bushel of corn multiplied by his opportunity cost of a bushel of cotton. a. is equal to 0.
b. is between 0 and 1.
c. is equal to 1.
d. is greater than 1.
Business
2 answers:
Rom4ik [11]3 years ago
5 0

Answer:

C) is equal to 1.

Explanation:

The opportunity cost of growing a bushel of corn instead of cotton = cotton bushels / corn bushels

The opportunity cost of growing a bushel of cotton instead of corn = corn bushels / cotton bushels

if we multiply both opportunity costs, the answer will always be 1 = (cotton bushels / corn bushels) x (corn bushels / cotton bushels).

i.e. a/b x b/a = 1 always

notsponge [240]3 years ago
4 0

Answer:

The correct answer is c. is equal to 1.

Explanation:

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