Asked by Sierra Giles on May 20, 2024
Verified
If the economy is producing at point D,the opportunity cost of shifting resources from consumer goods to gain 6 capital goods is _______ consumer goods.
Opportunity Cost
Failing to capitalize on potential gains from other alternatives when making a singular choice.
Consumer Goods
Products and services that are consumed by individuals or households for personal satisfaction and daily use.
Capital Goods
Physical assets utilized by businesses to produce goods and services, such as buildings, machinery, and equipment.
- Work out and comprehend the opportunity cost within a range of economic contexts.
Verified Answer
CV
Learning Objectives
- Work out and comprehend the opportunity cost within a range of economic contexts.