--%>
Assignment Help - homework help

Computing opportunity cost of producing textiles rather food

Country C is able to generate seven pounds of food or four yards of textiles per unit of input. Calculate the opportunity cost of producing food rather than textiles.  Also, compute the opportunity cost of producing textiles rather than food.

E

Expert

Verified

The opportunity cost of producing food rather than textiles is one yard of textiles per 7/4 = 1.75 pounds of food.  The pound of food has an opportunity cost of 4/7 = .57 yards of textiles.

   Related Questions in Financial Accounting

  • Q : Adjunct Account What do you mean by the

    What do you mean by the term Adjunct Account?

    		•
  • Q : Retail or client market and wholesale

    Distinguish between retail or client market and wholesale or interbank market for foreign exchange?

    		•
  • Q : Deposit-loan rate spread in Eurodollar

    Explain, how does deposit-loan rate spread within the Eurodollar market as compared to the deposit-loan rate spread in domestic U.S. banking system and why?

    		•
  • Q : Define Revenue Revenue : The amount

    Revenue: The amount (sum) of money which a company really receives throughout a specific period, comprising discounts and deductions for the returned merchandise. This is the "top line" or "annual income" figure from which costs are subtracted to find

    		•
  • Q : Prepare the journal entry to record the

    The Webster Company uses the aging method to estimate the allowance for doubtful accounts. The following schedule of accounts receivable was prepared as at December 31, 20x6: Age Balance % uncollectible 0-30 days $674,000 0.5% 31-60 days 186,000 1.2% <

    		•
  • Q : Different brooks of accounting Write

    Write down the different brooks of accounting?

    		•
  • Q : Performing the capital budgeting

    Explain difference between performing the capital budgeting analysis from the parent firm’s perspective as opposed to the project perspective.

    		•
  • Q : Leadership qualities required for

    Question Can one person in an organization make a difference? Write an essay on the leadership qualities required for running modern organizations <

    		•
  • Q : Accounting Treatment of Goods What are

    What are the various Accounting Treatment of Goods?

    		•
  • Q : CASH AND ACCRUAL BASIS OF ACCOUNTING

    Using the data below,prepare abbreviated income statements for the year 2003 and 2004 on cash basis. Cash receipts from sales: 2003 2004 2005 on 2003 sales $295,000 $160,000 $30,000 On 2004 sales 0 355,000 90,000 On 2005

    		•