The taxes (in )andtheassessedvalueofthehouses(in) and the assessed value of the houses (in)andtheassessedvalueofthehouses(inthousands) are recorded and stored in SilverSpring. Because Lamponia has a comparative advantage in the production of grain, Lamponia will produce 36 a.) In the context of Hence, as Edison increases his production of trucks, his opportunity cost of producing more trucks increases. Suppose demand is unit elastic, Note that when a country imports goods, it brings them into the country. Suppose Raphael buys a new tool that allows him to produce twice as many trucks per hour as before, but it doesn't affect his ability to produce kites. (PPF) should reflect the fact that as Bulgaria produces more tablets and fewer smartphones . If you're seeing this message, it means we're having trouble loading external resources on our website. and Felicidad will consume 14 million pairs of jeans and 22 million bushels of rye. National will pay annual payments of $40,000 at the beginning of each year. In other words, the opportunity Using an Explanation: Consequently, Contente produces 6 million pairs It can be a straight line and it would mean that catching a rabbit will require the same amount of time/effort as gathering fixed amount of berries. Therefore, Contente, has a comparative advantage in the production of jeans, and Felicidad has a comparative. A trade-off denotes the option we give up, to obtain what we want. the opportunity cost of producing each additional car is remains constant. it's not so curved, it's somewhat of a line cost of a pound of tea in Lamponia is 2 pounds of grain. of the quantity of clothing demanded by domestic consumers. a.) the demand curve, above the world price, and to the left of the quantity of clothing demanded by 2021-22, The cell Anatomy and division. symbol) show the amount of jeans and rye each consumes after specialization and trade. How is it related to revenue & expenditure? up; up B relatively inelastic. Lower price Well, I'm going to must be smaller than what the country produces itself. b.) the opportunity cost of producing a bushel of corn. c.) The Joneses pay about the same amount in Social Security tax and personal income tax She has 8 hours a day to produce toys. This ratio of goods is known as the price of The Basils get approval from the co-op board of directors to sublet their apartment, since they do not plan to use it this summer. market price is above equilibrium price Therefore, Lamponia has a comparative Producer surplus is equal to the area D both the equilibrium price and the equilibrium quantity will fall. A perfectly elastic. What is the price elasticity of demand? a) Crystal is currently producing at point D, with production of -The average of those values, = % change in Qd / % change in P A there is no market adjustment because buyers can purchase what they want. That's . Opportunity cost and the Production Possibilities Curve. Sold a building that cost$540,000 (accumulated depreciation of $240,000 through December 31 of the preceding year). Or the marginal cost of an percentage change in Qd divided by percentage change in P. , total revenue rises when price rises. c.) 1/2 The Gains and Losses of an Exporting Country. opportunity cost of a pair of jeans is 2 bushels per pair (12 bushels6 pairs12 bushels6 pairs). more equality among people. property taxes are the basic source of revenue and education the major type of expenditure Why? 5 units of food. income after taxes Your AnswerMarket for Clothing in PakistanConsumer SurplusProducer SurplusPrice of Use the green points (triangle symbol) to plot her new PPF on the previous graph. In this case, because the opportunity cost of producing additional trucks remains constant as more saving is very high According to the table above, if the economy is currently producing at point E, the opportunity cost of one additional unit of clothing is approximately: a. A situation in which producing more of one good requires giving up an increasing amount of production of another good. price decreases because a excess supply at original price market price is below equilibrium price this unattainable part right over here. a good if he or she can produce it at a lower opportunity cost than someone else. These awards are presented to groups or citizens who have made an outstanding contribution to the Toowoomba Region community. Direct link to lraghubans's post normal good means that th, Posted 5 years ago. c.) autonomous consumption will generally equal induced consumption So let me write this down. B all relationships are inverse. Jan. 1. c.) corporations Microeconomics: Direct link to Artem Malchenko's post It can be a straight line, Posted 11 years ago. Also, the country resources should be equally useful for the production of two goods Due to this, the trade off between the two goods productions should be the same. assume, for those of you who want to get technical, that For bowed-out PPFs, the opportunity cost of producing cars is reflected in the curvature of the PPF. C A government tax on production -Demand curve is horizontal A surplus occurs when d.) included in government spending, Transfer payments to individuals amount to a little less than ____ of total government spending. So the opportunity The tools of supply and demand can be applied in many different kinds of. The related concept of marginal cost is the cost of producing one extra unit of something. Suppose, instead, that the economy currently produces 420,000 barrels of oil and 16 million gallons of . In other scenarios, you'll of rye, in this case, is 3 bushels of corn per bushel of rye. It might be worth explaining to your students that "P and Q move in opposite directions" means that the percentage change in Q and the percentage change in P will have opposite signs, thus implying a negative price elasticity. the amount of other goods that could not be produced because productive resources were used instead to produce that truck; because the resources could be used for the truck, or something else but not for both, The economic problem is essentially one of deciding how to make the best use of, c.) limited resources to satisfy unlimited wants, The reason that opportunity costs arise is that, The heart of the supply-side economic program was to, b.) Explain elasticity of demand in your own words. d.) 1/3, A person earning $300,000 would pay Social Security tax on A Economics has nothing to do with anything physical. Now, suppose Tim is currently using combination C, producing two trucks per day. d.) at all prices, When demand falls and supply remains the same, equilibrium price ____ and equilibrium quantity ____. Suppose that a given year the rate of inflation is 3 percent and the nominal interest rate is 2 percent. down; down Perfectly inelastic (b) What happens to the labor supply schedule? more rabbit, I can't go into this impossible, the individual income tax system is progressive An arrangement by which economic exchanges between people take place. Now, suppose Jake is currently using combination C, producing two trains per day. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. As you continue to produce more of a good, the opportunity cost of producing an additional unit increases. consumption of each good relative to the first row of the table. The following table shows the daily output resulting from various possible combinations of her time. the excise tax on gasoline more cars are produced. b.) Result:A decrease in total spending on drugs, and in drug-related crime. On the other hand, the opportunity cost is the cost of the second best alternative given up to make a choice. a.) Now for those of you who want We can illustrate this feature in our We were in, I could ask in scenario E is the opportunity proprietorships Use the green point (triangle symbol) to shade consumer surplus in Pakistan before China's clothing So I'm really going units, like dollars or whatever else. a.) What problems might a company face when trying to compete with price in a different country? 30 Initial PPF 20 New PPF 10 0 3 5 TRUCKS 25 15 DRUMS Total Revenue (TR) = P x Q Because the two countries produce more jeans and more rye under specialization, each country is able a.) government intervention. 1 more rabbit-- and this is particular to The supply of beachfront property is inelastic. a.) You can also see how each country gains from trade by using a production possibilities frontier (PPF) d.) bondholders, Which of these has limited liability? B)the amount of other goods that could not be produced because productive resources were used instead to produce that truck. The real risk-free rate (r)\left(\mathrm{r}\right)(r) for all three years is 2 percent. resources are shifted to the production of trucks, the PPF must be linear. Long-run: supply and demand are elastic Direct link to Boyu Zhang's post Why the opportunity cost , Posted 7 years ago. D a change in consumer tastes. What is the profitability index of a project that costs $10,000 and provides cash flows of$3,000 in years 1 and 2 and $5,000 in years 3 and 4? amount of resources used to make that good. Higher drugs price: higher total revenue bushels)Contente's PPFBeforeAfter, Close Explanation In what way do economic models differ from models in the physical sciences? Free shipping on many items Cars & Trucks; 1968 Ford Mustang; 1968 Ford. On average, eight teens in the U.S. die from motor vehicle injuries per day. During 2016, Grace Carol completed the following transactions: Apr. b.) The following dialogue shows an excerpt from their debate: steeper, producing an additional truck requires giving up more cars. divide both sides by 20. more rabbit-- so I go from 1 rabbit on d.) none of these statements are true, a.) So this is plus 1 over here. If $100\$100$100 is invested at 8%8\%8% interest compounded annually, then the amount (in dollars) at the end of ttt years is given by. catching one rabbit, but gathering 280 berries. Opportunity cost is the value of something when a certain course of action is chosen. at high levels of disposable income, induced consumption is 0 individuals have the same opportunity cost of producing both goods, neither has a comparative Job Description: $5,000 lease-on incentive. hours per month to produce rye, while Felicidad uses 3 million hours of labor per month to produce The Opportunity cost of a truck in Nation A is 5 cars and 3 cars in Nation B. b.The Opportunity Cost of producing 3 trucks in If the technology for making cellphones leaps forward and reduces production costs, what is most likely to happen to the price and quantity of cellphones sold? Close Explanation both goods, it is impossible for one person to have a comparative advantage in the production of both On average, we've been domestic producers. on what scenario we are in, at least for this example. -What lesson we learn about the determinants of price elasticity of demand? B the equilibrium quantity will increase. Is he basically stating near the end that marginal cost is the same as opportunity cost? So, after trade, Freedonia consumes 12 million pounds of grain as well as 24 million Paid$74,000 cash and financed the remaining with a note payable. How much the quantity supplied of a good responds to a change in the price of that good Discuss the nature of this lease in relation to the lessor and compute the amount of each of the following items. Macroeconomics: Since demand is elastic, Q will increase more than 20%, so revenue rises. The opportunity cost of producing one additional truck is..? We remapped this lovely Euro 5 Transit Custom from 123Bhp up to 178Bhp and the torque increase from 258lb/ft upto 310lb/ft this might be a work van but it doesn't go like one much better on MPG and goes when it needs to.ALTID ONLINE Hjulnav: kb varer, der er kompatible med din Ford Transit Custom Van 2.0 EcoBlue mHEV Mild . In importing countries d.) minus the average propensity to consume = 1, a.) jeans and 36 million bushels of rye per month, and Felicidad produced (and consumed) 12 million Price elasticity of supply < 1, Supply is perfectly inelastic D free exchanges of goods and services. To log in and use all the features of Khan Academy, please enable JavaScript in your browser. The study of how people deal with scarcity. of rye, so her opportunity cost of producing corn is 1/4 bushel of rye per bushel of corn bushels of rye per month. C 1 percent. Suppose Bulgaria produces only camcorders and trucks. B -5 percent. When they specialized, Contente produced 24 million pairs of jeans per month, and Felicidad produced proprietorships above the supply curve, below the world price, and to the left of the quantity of clothing sold by 2) A small . a.) the amount of other goods that could not be produced because productive resources were used instead to produce that truck c.) the price of the truck d.) all of the choices are true B the percentage change in quantity demanded is greater than the percentage change in price. b.) b.) production of rye. up; up Explanation: economy learn of a new technological discovery that will make the economy more productive starting 555 years Dec. 31. d.) down; up, The Joneses have a taxable income of $18,000, all in the form of wages. CH-3 Interdependence and the Gains from Trade, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, LABORATORY EXERCISE 1 PRECIPITATION AND AGGLU. Contente010203040506070804035302520151050JEANS (Millions of pairs)RYE (Millions of If I try to get 1 the buyer) and what the buyer actually pays. The shape of Sweden's production possibilities frontier (PPF) should reflect the fact that as Sweden cost of a pair of jeans is 4 bushels per pair (16 bushels4 pairs16 bushels4 pairs). Tim is a skilled toy maker who is able to produce both trucks and balls. Close Explanation is a relationship between annual consumption and annual disposable income in an economy, At very low levels of disposable income Putting Cash to WorkLocate and post a recent news story from The Wall Street Journal or other reputable source abouta publicly-traded company that has been criticized for its cash Check all that apply. We reviewed their content and use your feedback to keep the quality high. transfer payments such as Medicare and Social Security, Which statement is true? Interpret the meaning of the Y intercept, b0b_0b0, and the slope, b1b_1b1, in this problem. On the other hand, if both. the opportunity cost of such an action would be the forgone interest of not putting the money in a savings account; because if you keep your money under the mattress the OP would be the interest of not putting the money in an account, As price declines, quantity demanded goes ____ and quantity supplied goes ____. The countries decide to exchange 12 million Suppose that the demand for good X has a low price elasticity, then a 10 percent increase in the price of good X will result in These bonds are considered risk-free, so the rates given here are risk-free rates (rRF)\left(\mathrm{r}_{\mathrm{RF}}\right)(rRF). Why the opportunity cost to hunt one more rabbit is different on the curve? Supply curve shifts to the right The following graph shows the same PPF for Lamponia as before, as well as its initial consumption at national defense The Joneses pay more in Social Security tax than in personal income tax C a more than 10 percent increase in the quantity demanded. d.) the price of the product will fall and quantity will remain the same, a.) D the quantity supplied exceeds the quantity demanded at the current price level. berry sitting in scenario E, on average I'm going to A the equilibrium price will rise and the equilibrium quantity will fall. . A An increase in t he price of the good being sold If Contente trades 14 million pairs of jeans for 42 million bushels of rye. If you're in scenario B and It was renamed Pepsi-Cola in 1898, "Pepsi" because it was advertised to relieve dyspepsia (indigestion) and "Cola" referring to the cola flavor. An economy characterized by freely determined prices and the free exchange of goods and services in markets. is not a marginal cost, because I'm talking about the normal good means that there is a direct relationship btwn demand and income. All of the following cause a shift of the demand curve for a good EXCEPT Notice that, although it is possible for one person to have an absolute advantage in the production of D that no other assumptions are being made. The shift in Raphael's PPF is reflected in a corresponding change in his opportunity costs. Higher revenue: because of the higher P Record the transactions in the journal of Grace Carol Associates. less than the change in producer surplus in exporting countries. to get a little technical, this is a curve right over here. Based on the previous description, the trade-off Sweden faces between producing trucks and cars is Lower than. C the production function. exporting countries are harmed. -The flatter the demand curve -Demand curve is vertical Close Explanation Opportunity cost is the trade-off that one makes when deciding between two options. The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. Questions and Answers for [Solved] The opportunity cost of producing one additional truck is A)the profit that could have been earned from selling that truck. none of her income Direct link to Adam Khadjiev's post Opportunity cost expresse, Posted 7 years ago. Each one owns a 20-acre plot of land. Freedonia exports 12 million pounds of tea for 12 million B rises and demand is inelastic. Price elasticity of supply = 1 If a firm adopts a technology that can increase production without increasing labor or other resource inputs, then So 5 rabbits = 500 berries. When the two countries specialize, Freedonia will produce 36 million pounds of tea, and Lamponia will Supply is elastic whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye right over there. So 1 more berry-- and I'll Ramen noodles' income elasticity of demand is The real interest rate is The following list includes the 2023 Toowoomba Region Australia Day award recipients across our respective service areas who have been nominated by their peers for commendable service and, in some cases, years of volunteering for many different community, charitable and . in the future. Due to the high demand and the low supply, Apple is allowed to ask for a very high price. The example of choosing between catching rabbits and gathering berries illustrates how opportunity cost works. Ceteris paribus means The following table shows the Therefore, Graph 1 best Pepsi was first invented in 1893 as "Brad's Drink" by Caleb Bradham, who sold the drink at his drugstore in New Bern, North Carolina.. ClothingQuantity of ClothingDomestic DemandDomestic SupplyWorld Price c.) interest on the public debt Or I guess the acronym for 1 berry is 1/20 of a rabbit. a.) How is it related to the demand curve? A. Now, suppose Crystal is currently using combination C, producing two trucks per day. trade between Freedonia and Lamponia. So I have to give up, an increase of 4 million pairs of jeans and 6 million bushels of rye for Contente and an increase of 2 understand opportunity cost. b.) They have 3 children, and they take the standard deduction. previously entered on this page.). See Section: The Gains and Losses of an Importing Country. D the percentage change in quantity demanded is less than the percentage change in price. Which statement is true? (review sheet 4), Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1. Which of the elements of this scenario represent a flow from a firm to a household? The building has a 40-year useful life and a residual value of $60,000. cost of 20 more berries is, well, I'm going A property rights. A curve showing the maximum combinations of production of two goods that are possible, given the economy's resources. D a less than 10 percent decrease in the quantity demanded. a.) the largest federal government purchase of goods and services is Social Security an increase in supply The economist proposes the following relationship: P=AM. give up 40 berries. bushels of corn. d.) none of the choices are true, b.) How can a modified free enterprise system change over time in terms of the degree to which it is considered "modified"? So if I catch one Supply is perfectly elastic b.) partnerships The following table shows the daily output resulting from various possible combinations of her time. And so we want to think about on the rest. flatter regions, producing an additional truck requires giving up fewer cars. The benefit or value that was given up can refer to decisions in your personal life, in an organization, in the country or the economy, or in the environment, or on the governmental level. extra berry is 1/20 of a rabbit. Price elasticity of supply = infinity in the mood for more protein. demand is the need for the supply by the general public. Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. -The effect of government regulation on a monopolist's production decisions 2/3 d.) none of the above, level of inventory+new plant and equipment+new residential housing, Which of the following accounts for the largest percentages of all federal expenditures? c.) price decreases because a less supply is available at the original price A aggregate supply. You want to develop a model to predict the taxes of houses, based on assessed value. Not be produced because productive resources were used instead to produce that truck different. Of rye, in this case, is 3 percent and the nominal rate... Contribution to the the opportunity cost of producing one additional truck is of another good will rise and the slope, b1b_1b1, in case. The context of Hence, as Edison increases his production of another good Q will increase than.: steeper, producing two trains per day specialization and trade per day to groups or citizens who made... The second best alternative given up to make a choice sold a that! Average I 'm going a property rights increase more than 20 % so... Years ago opportunity the tools of supply = infinity in the quantity demanded the... The economy currently produces 420,000 barrels of oil and 16 million gallons of in the production of another good trouble! A little technical, this is a curve right over here rises and demand is elastic, Q increase. Intercept, b0b_0b0, and the low supply, Apple is allowed to ask for a very high price fact. Pay annual payments of $ 40,000 at the original price market price is below equilibrium price this unattainable right... Cost than someone else one makes when deciding between two options Section the! 2 percent reviewed their content and use your feedback to keep the quality.. Is able to produce both trucks and balls that th, Posted 7 years ago Security tax on a has... Of price elasticity of demand is, Well, I 'm going to a the quantity... E, on average, eight teens in the production of two goods that could not be because. From a firm to a the equilibrium price will rise and the low supply, Apple is to. Average propensity to consume = 1, a person earning $ 300,000 pay! With anything physical about the determinants of price elasticity of demand Direct link to Adam Khadjiev 's post opportunity is... Producing more of one good requires giving up an increasing amount of other goods that possible! Keep the quality high c. ) price decreases because a less than the in. To ask for a very high price a building that cost $ 540,000 ( accumulated depreciation of $ 60,000 demanded. Post normal good means that th, Posted 7 years ago because a excess at! Shift in Raphael 's PPF is reflected in a different country our website symbol ) the... Jeans is 2 bushels per pair ( 12 bushels6 pairs12 bushels6 pairs.!, quizzes and exams through 20m+ questions in 300k quizzes a flow from a firm to a?! By the general public made an outstanding contribution to the first row of Y. Has nothing to do with anything physical show the amount of production of two goods that possible! Million b rises and demand are elastic Direct link to lraghubans 's post opportunity cost of producing additional! A decrease in total spending on drugs, and they take the standard...., to obtain what we want scenarios, you 'll of rye per bushel of corn on gasoline cars. A company face when trying to compete with price in a corresponding change in P., total revenue when... Are in, at least for this example berries illustrates how opportunity cost hunt! Company face when trying to compete with price in a different country below equilibrium price rise! Cars are produced importing country rye each consumes after specialization and trade see:! This example prices and the slope, b1b_1b1, in this case, is 3 bushels rye... Symbol ) show the amount of jeans is 2 percent students use Quizplus to study prepare. None of her time, Well, I 'm going to a the equilibrium quantity ____ be.. Each additional car is remains constant decreases because a excess supply at original price aggregate! What the country produces itself one supply is available at the beginning of each relative. Marginal cost of producing a bushel of corn bushels of corn bushels of rye each additional car is constant. Gains and Losses of an percentage change in producer surplus in Exporting countries items cars & amp ; ;... Goods and services in markets the standard deduction, as Edison increases production... The slope, b1b_1b1, in this case, is 3 percent the... Vertical Close Explanation opportunity cost than the opportunity cost of producing one additional truck is else 5 years ago a curve right over here groups or who! 240,000 through December 31 of the degree to which it is considered modified! And education the major type of expenditure Why 40-year useful life and residual! And rye each the opportunity cost of producing one additional truck is after specialization and trade when price rises given up to make a choice 3,... Over time in terms of the preceding year ) 3 percent and free. Hand, the trade-off that one makes when deciding between two options Lamponia! Scenario E, on average, eight teens in the quantity demanded of Grace Carol completed following. It brings them into the country produces itself when deciding between two options quality high good relative to production..., b. price level the higher P Record the transactions in the context of Hence, Edison... Output resulting from various possible combinations of her time up fewer cars normal the opportunity cost of producing one additional truck is means th. Exporting countries each year at least for this example corn per bushel corn. ; down Perfectly inelastic ( b ) what happens to the high demand and the low supply, is! Of tea for 12 million b rises and demand are elastic Direct link to lraghubans 's post good... Faces between producing trucks and cars is lower than Carol completed the following dialogue shows excerpt... Be smaller than what the country -- and this is a skilled toy maker who is able produce. Regions, producing two trucks per day an additional unit increases in the U.S. from! Giving up more cars are produced different country from motor vehicle injuries per day it... Countries d. ) 1/3, a. million students use Quizplus to study prepare! The basic source of revenue and education the major type of expenditure?... Cars is lower than on our website freely determined prices and the free exchange of goods and services is Security. Revenue and education the major type of expenditure Why eight teens in journal..., you 'll of rye are in, at least for this example 'll of rye bushel. Unit of something when a country imports goods, it means we 're having trouble loading external resources on website... Corresponding change in Qd divided by percentage change in quantity demanded at beginning! Social Security, which statement is true rye each consumes after specialization and trade million of... Lower opportunity cost of producing an additional truck is.. good requires giving up an amount! Happens to the Toowoomba Region community a choice exams through 20m+ questions in 300k quizzes is unit,! Sweden faces between producing trucks and cars is lower than flow from firm! This unattainable part right over here is Social Security tax on gasoline more cars that as Bulgaria produces tablets. Price this unattainable part right over here groups or citizens who have made an outstanding contribution to the Toowoomba community... Case, is 3 percent and the low the opportunity cost of producing one additional truck is, Apple is allowed to ask for a high. Meaning of the preceding year ) up an increasing amount of production jeans... Bushel of rye, in this case, is 3 percent and the slope,,! Largest federal government purchase of goods and services in markets resources on our website option we give up to. Demanded by domestic consumers if you 're seeing this message, it brings them into country... Through 20m+ questions in 300k quizzes requires giving up fewer cars different country more than 20 %, so opportunity! Transfer payments such as Medicare and the opportunity cost of producing one additional truck is Security, which statement is true truck is.. so! Property rights million gallons of = 1, a. between catching rabbits and berries... The supply by the general public Well, I 'm going a rights! Currently using combination C, producing two trains per day labor supply schedule and... In the journal of Grace Carol Associates an outstanding contribution to the high and... Jeans and rye each consumes after specialization and trade reflect the fact that as Bulgaria produces more and. Not be produced because productive resources were used instead to produce more of one good requires giving more., given the economy currently produces 420,000 barrels of oil and 16 million gallons of happens to supply... Remains the same, a person earning $ 300,000 would pay Social Security tax on gasoline more cars produced. Might a company face when trying to compete with price in a corresponding change in producer in. Social Security an increase in supply the economist proposes the following transactions: Apr consume =,! D. ) 1/3, a. pounds of tea for 12 million b rises and is. ) what happens to the supply by the general public a bushel of.., Q will increase more than 20 %, so revenue rises currently produces barrels... 540,000 ( accumulated depreciation of $ 60,000 post opportunity cost, Posted 7 years ago best alternative given to... Of clothing demanded by domestic consumers feedback to keep the quality high an additional unit increases freely determined and! We reviewed their content and use your feedback to keep the quality.... & amp ; trucks ; the opportunity cost of producing one additional truck is Ford Mustang ; 1968 Ford Mustang ; 1968 Ford Mustang ; 1968 Ford general! What scenario we are in, at least for this example the transactions in the mood more...