The opportunity cost when one unit of military outfit is produced is 95.
The opportunity cost when two units of military outfits is produced is 40.
The opportunity cost when three units of military outfits is produced is 20.
The opportunity cost when four units of military outfits is produced is 8.75.
What is opportunity cost?
Opportunity cost is the cost of the next best option that is let go of by a decision maker when she forsakes one option in the favor of another option. It is also known as implicit cost.
What is the opportunity cost of producing militray outfits?
Opportunity cost = number of consumer goods / number of military outfits
- The opportunity cost when one unit of military outfit is produced = 95 / 1 = 95
- The opportunity cost when two units of military outfits is produced is 80 / 2 = 40
- The opportunity cost when three units of military outfits is produced is 60 / 3 = 20
- The opportunity cost when four units of military outfits is produced is 35/4 = 8.75
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