Post Utme Greenfield University 2017 Economics Question 21
Practice objective / multiple choice question 21 from the 2017 Post Utme Greenfield University Economics examination.
The opportunity \cost of producing one more unit of wheat is the amount of wheat that could have been produced by diverting resources from the production of another good. If the opportunity \cost of producing one more unit of wheat is 2 units of rice, and the price of wheat is ₦50 per unit, and the price of rice is ₦30 per unit, what is the opportunity \cost in terms of rice if the price of wheat increases to ₦60 per unit?
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About This Question
This is Post Utme Greenfield University 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Greenfield University Economics examination.
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