Answer:
Food
Explanation:
I mean what else would it be?
Answer:
Second time here for the points
.....
The correct answer is A. Country chooses to produce bananas instead of wheat.
Opportunity cost is termed as value of choice. It is the important concept in economics and also the relationship which is between choice and scarcity.
A good example of opportunity cost is you can spend money and time on other things but you can not spend time reading books or the money in doing something which can help.
Opportunity takes important part in economic theory.
Answer:
Amount to spend = $18.50
Purchased banana =$1.50
Apple Juice =$1.55
Gasoline $2.35
$1.50 + $1.55 = $3.05
18.50 - 3.05 = 15.45
1 Gallon of Gasoline = 2.35
Therefore,
2.35 x 6 = 14.1
15.35 - 14.1 = 1.25
To avoid exceeding budget, he can only buy
6 gallons of gasoline
