If each worker in UK produced 72 computers/year and 180 tons of grain/year what is the opportunity cost for the computers
To determine the opportunity cost for the computers, we need to calculate the amount of grain that could have been produced instead.
Opportunity cost is the value of the next best alternative that is given up when a choice is made. In this case, the opportunity cost of computers is the amount of grain that could have been produced instead.
Let's assume there are only two choices: producing computers or producing grain.
Given that each worker in the UK produces 72 computers per year, we can say that the opportunity cost of 1 computer is the amount of grain that could have been produced instead by that worker.
So, we need to find out how much grain each worker could produce in a year. Let's assume that it is X tons.
Given:
1 worker produces 72 computers/year
1 worker produces 180 tons of grain/year
The opportunity cost of producing 1 computer is X tons of grain.
To find X, we can set up a ratio using the given information:
72 computers / 180 tons of grain = 1 computer / X tons of grain
Now we can solve for X:
72/180 = 1/X
Cross-multiplying:
72X = 180
Dividing both sides by 72:
X = 180/72
Simplifying:
X = 2.5
Therefore, the opportunity cost for producing the computers is 2.5 tons of grain.