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Anonymous
Anonymous asked in Education & ReferenceHomework Help · 8 months ago

What's the opportunity cost of cloth for Home in the example below and explain?

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  • Oiy
    Lv 6
    8 months ago

    1 Cloth=2 Widgets. It means if you chose to produce 1 cloth, you must give up 2 widgets. That is the definition of opportunity cost or the next best thing.

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