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3 weeks ago
Suppose the nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots, it can make 80 per day. If Arcadia produces only surfboards, it can make 30 per day. What is the opportunity cost of 1 teapot in Arcadia?

▸ 3/8 of a surfboard

▸ 8/3 surfboards

▸ 30 surfboards

▸ 80 surfboards
Textbook 
Microeconomics: Principles, Applications, and Tools
Edition: 8th
Authors:
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wrote...
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3 weeks ago
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3/8 of a surfboard
1
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wrote...
3 weeks ago
Exactly what I needed for my project, TYSM
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