Question

If alpha is producing 300 units of clothing represented by point a, and if it then decides to produce the amount of clothing at point c, what would be the opportunity cost in cars?

Answer 1

70 Cars would be the opportunity cost in cars.

Step-by-step explanation:

The number of existing items has to be changed if more than one item is made. It represents an appreciation of cost of opportunity.

As production increases on one item, production decreases. This can be seen as a rise in garments from 300 to 400, which contributes to a drop in car production at point b from 70 to 40.

Chance losses do not only cover cents and dollars, but can be extended to almost any option or operation.

For Example: The time at your workplace must be harmony and you must be with friends. If you choose to add extra hours to your career, the time you might enjoy with your mates would be the loss of your success. If you spend time with friends, the chance will be your money at work.