Question

(a) What was the opportunity cost of non-GM food for many buyers before 2008?

Answer 1

Answer:(a) The alternative natural food available (b) The food came from the Genetic modifications of the food (c) The concern for the safety of the consumption of the food on people's health.

Explanation:

Opportunity cost can be defined as the value of benefit sacrifice in favour of an alternative course of action. In the sense that, the acceptance of one option will automatically lead to the rejection of the second option. It is the alternative forgone to have the other food..In the question, there are two alternative non - GM food, and GM food before 2008. Before 2008 the opportunity cost of non - GM food for many buyers before 2008 is the alternative natural food available for the consumption of the people. While the opportunity cost in 2008 is that the food came out from the Genetic modification made to the food in 2008, it however, changed due to the concern for the safety of the consumption of GM food on the health of the people.