UNIT 6 Macroeconomics LESSON 1

The opportunity cost of one bushel of corn is three bushels of rice; or, alternatively, the opportunity cost of one bushel of rice is 1/3 of a bushel of corn. On one acre of land, China can produce 100/8 (12.5) bushels of corn or 100/2 (50) bushels of rice. The opportunity cost of one bushel of corn is four ................
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