Refer to the information provided in Figure 2.5 below to answer the question(s) that follow. Figure 2.5Refer to Figure 2.5. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the

A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions.
B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions.
C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions.
D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.

Answer: C

Economics

You might also like to view...

Why is the equilibrium in a trust game socially inefficient?

What will be an ideal response?

Economics

McDonalds and many supermarkets offer vending machines in their stores that rent new movie releases for as low as $1.00 per day provided that they are returned in 24 hours before incurring a late fee

How can Netflix and Blockbuster compete against this type of service? Or is their something else going on there that doesn't first meet the eye?

Economics