Per unit opportunity cost

A firm operating at 'X' produces 70 whips and 60 saddles. It changes production to 'Y' producing 20 whips and 90 saddles. The opportunity cost of this production change is

• 20 whips

• 30 saddles

• 50 whips

• 60 saddles

Apple can make 1,000 iPhones or 600 iPads in their factory each day. What is the opportunity cost of making each iPhone?

• 3/5 iPad
• 3/5 iPhone
• 5/3 iPads
• 5/3 iPhones

What is the opportunity cost of going from point D to point B?

• 6 carrots
• 6 apples
• 24 carrots
• 24 apples

What is the opportunity cost of going from point C to point A?

• 16 apples
• 16 carrots
• 8 apples
• 8 carrots

What is the opportunity cost of going from point A to point D?

• 28 apples
• 28 carrots
• 10 apples
• 10 carrots

What is the opportunity cost of going from point D to point C?

• 2 carrots
• 2 apples
• 12 apples
• 12 carrots

What is the opportunity cost of going from point A to point C?

• 8 apples
• 8 carrots
• 16 apples
• 16 carrots

Which point represents the economy working at 100% efficiency?

• Point X
• Point C
• Point Y
• Point Z

Which point represents an economy that is inefficient?

• Point X
• Point A
• Point C
• Point Z

Which point represents a point in production that is currently unattainable?

• Point X
• Point A
• Point D
• Point Y