Production Possibilities Application Based Activity

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What is the opportunity cost of one cake if we move from combination A to combination B?

0.75 cookies (35-38)/(4-0)

What is the opportunity cost of producing one more cake as we move from combination B to combination C?

2.30 cookies (28-35)/(7-4)

What is the opportunity cost of producing one more cake if we move from combination C to combination D?

5 cookies (18-28)/(9-7)

What is the opportunity cost of one cake if we move from combination D to combination E?

8 cookies (0-18)/(10-9)

Law of Economics means?

The law of increasing opportunity costs


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