On a production possibilities frontier, 500 pounds of apples and 1,200 pounds of bananas can be produced while at another point on the same frontier, 300 pounds of apples and 1,300 pounds of bananas can be produced. between these points, what is the opportunity cost of producing a pound of bananas?

The opportunity cost of producing a pound of bananas is 2 pounds of apples.

Explanation:

At a point on the production possibilities frontier, 500 pounds of apples and 1,200 pounds of bananas are being produced.

When quantity of bananas is increased by 100 pounds from 1,200 to 1,300 pounds, the quantity of apples declined by 200 pounds, from 500 pounds to 300 pounds.

The opportunity cost of producing a pound of bananas

=

=

= 2 pounds of apples

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

ell really, the setting was in franklin and lincoln visits franklin even after he moved to columbus, and he went to school