Refer to Table 20.1. In Guatemala, the opportunity cost of 1 bushel of bananas is

A) 1/2 bushel of oranges.
B) 1 bushels of oranges.
C) 2 bushels of oranges.
D) 4 bushels of oranges.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, a foundational concept in economics that emphasizes the potential benefits that are missed when choosing one option over another.

Bushel

A unit of measure for volume, used primarily in dry commodities trading, equivalent to about 8 gallons or 36.4 liters in the U.S.

Acre

A unit of land area used primarily in the Imperial and US customary systems, equal to 43,560 square feet or about 4047 square meters.