If a country is currently producing 11 units of health care and 16 units of education, what is the
opportunity cost of producing 5 more units of education?
To determine the opportunity cost of producing 5 more units of education, we need to understand what is being given up in order to produce those additional units. In this case, the opportunity cost refers to the quantity of health care that needs to be sacrificed in order to produce the extra education.
To calculate the opportunity cost, we can compare the change in education units to the change in health care units.
Given that the country is currently producing 11 units of health care and 16 units of education, we need to consider the scenario if the country decides to produce 5 more units of education.
To find the opportunity cost, we will subtract the current education units from the education units with the additional 5 units:
Opportunity Cost = Education units (with additional 5 units) - Education units (current)
Opportunity Cost = (16 + 5) - 16
Opportunity Cost = 21 - 16
Opportunity Cost = 5
Therefore, the opportunity cost of producing 5 more units of education is 5 units of health care.