Question

14.The opportunity cost of 100 kg of rice produced on a land which can also produce 80 tonnes of wheat

2

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Answer 1

Answer:

Explanation:

80 tonnes of wheat, which is sacrificed for the production of 100 kg of rice.

Answer 2

Answer:

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Explanation:

Opportunity cost of production of a commodity refers to the resources which have to be sacrifice in terms of the next best alternative which could have been produced using the same resources.

Therefore, the next best alternative which could be produced on the piece of land mentioned here is 80 tonnes of wheat, which is sacrificed for the production of 100 kg of rice.