Solved: Suppose the nation of arcadia produces only two goods, Business Management

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Suppose the nation of arcadia produces only two goods

Suppose the Nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots it can make 80 per day. If Arcadia produces only surfboards, it can make 30 per day. What is the opportunity cost of 1 teapot in Arcadia?

A. 3/8 of a surfboard

B. 8/3 of surfboards

C. 30 Surfboards

D. 80 surfboards

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Business Management: Suppose the nation of arcadia produces only two goods

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