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The opportunity cost of a car is​ _____ truck(s) in the United States and​ _____ truck(s) in England.

1 Answer

4 votes

Answer:

A) 0.23; 0.67

Step-by-step explanation:

The opportunity cost refers to the benefits an individual or firm loses when opting for a different alternative. Verbally, that means if you go for a car, you lose not having a truck in the US and a truck in England.

In numeric terms, your choice for getting a car represents 1. Also, the 1 as a whole (100%) can be split further to percents - having a 0.23 truck in the US and 0.67 truck in England.

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