If Athletic Country currently produces 100 bats and 400 rackets, what is the opportunity cost of an additional 100 bats?
The cost of producing 100 additional bats would be 100 bats
This is because the opportunity cost is measured as the cost of a foregone alternative to produce another good.
In this case, the country has to give up 400 rackets to produce 100 bats, so the opportunity cost is 100 bats.
What is Opportunity Cost?
This refers to the foregone alternative and is the cost of the next best alternative that the individual sacrifices to gain the additional unit.
Hence, we can see that If Athletic Country currently produces 100 bats and 400 rackets, what is the opportunity cost of an additional 100 bats?
The cost of producing 100 additional bats would be 100 bats
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