Economics · May / June 2024 · Paper 11 · Question 2
2281Opportunity cost
A firm is deciding whether to produce good X or good Y for the next five years. The predicted revenue for good X is $20 000 per year and for good Y is $18 000 per year. What is the opportunity cost of producing good X?
- A$18 000
- B$20 000
- C$90 000
- D$100 000
As printed in the paper
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Correct answer: C. $90 000
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