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Eleonora Molinaro Simon
on Oct 25, 2024

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(Scenario: The Production of Wheat and Toys) Use Scenario: Production of Wheat and Toys.The opportunity cost of producing a unit of wheat in country B is:

A) 75 toys.
B) 3 toys.
C) 25 units of wheat.
D) 0.33 units of wheat.

Opportunity Cost

Giving up the chance for gain from multiple possibilities by choosing a specific alternative.

Wheat

A type of cereal grain that is grown worldwide and is a staple food in many regions, used to make products like bread, pasta, and flour.

Toys

Objects designed for play, typically used by children, that can range from simple handmade items to complex electronic devices.

  • Recognize the impact of specialization and trade on national production and consumption patterns.
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Harry AzcrackOct 26, 2024
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