Question

Q. With a given endowment of resource (labour), an economy can produce either 100 units of food or 60 units of clothing. If the economy decides to produce only food and no clothing, then what is the opportunity cost of producing 100 units of food?

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Answer 1

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The opportunity cost of producing 100 units of food is 60 units which has to be sacrificed.

Answer 2

Answer:

The opportunity cost of producing 100 units of goods is 60 units of food which needs to be sacrificed.

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