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PPF - The Price of the Trade
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PPF - The Price of the Trade
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2. Introductory Economic Models / PPF - The Price of the Trade / Problem 1
Problem 1
A farmer can produce either 100 bushels of corn or 50 bushels of wheat. What is the opportunity cost of producing 1 bushel of wheat?
A
1 bushel of corn.
B
3 bushels of corn.
C
2 bushels of corn.
D
0.5 bushels of corn.
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