Neco 2021 Economics Question 16

Practice objective / multiple choice question 16 from the 2021 Neco Economics examination.

Neco 2021 Economics Objective / Multiple Choice Easy Difficulty
Question 16 NECO • 2021 • ECONOMICS • objective

An economy can produce either \(120\) tonnes of cassava or \(80\) tonnes of maize with its available resources. If the economy decides to produce \(30\) tonnes of cassava, how many tonnes of maize must be forgone? Also state the opportunity cost of one tonne of cassava in terms of maize.

Answer Options

Correct Answer A. Maize forgone = 20 tonnes; Opportunity cost = \(\frac{2}{3}\) tonne of maize per tonne of cassava.
B. Maize forgone = 25 tonnes; Opportunity cost = \(\frac{5}{6}\) tonne of maize per tonne of cassava.
C. Maize forgone = 30 tonnes; Opportunity cost = \(1\) tonne of maize per tonne of cassava.
D. Maize forgone = 15 tonnes; Opportunity cost = \(\frac{1}{2}\) tonne of maize per tonne of cassava.
Correct Answer
A
Correct Option:
Maize forgone = 20 tonnes; Opportunity cost = \(\frac{2}{3}\) tonne of maize per tonne of cassava.

About This Question

This is Neco 2021 Economics Question 16. It is one of the objective questions from the 2021 Neco Economics examination.

Difficulty level: Easy .

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