4 different types of candy, gum, or crackers, cookies, snacks etc. might outweigh the additional cost (the opportunity cost). Explicit cost: You must pay $15 for the evening. Some of the worksheets for this concept are Why it matters what is the real cost lesson overview, Name class date taken total possible marks 26, What is my opportunity cost work, Activity smartphones and tablet computers, Handouts a and b answer key, Lesson 1 production possibilities and opportunity cost, Opportunity costs … Use the numbers in the table to draw a production possibilities curve on the graph to the right. (B) The opportunity cost of increasing production of Good A from one unit to two units is the C)marginal benefit. To produce another 1,000 WMD, the opportunity cost (rises/falls) to _____ pounds. Displaying top 8 worksheets found for - Opportunity Costs. Opportunity Cost Answer Key Sheet Author: dystopiannovel.com-2021-02-19T00:00:00+00:01 Subject: Opportunity Cost Answer Key Sheet Keywords: opportunity, cost, answer, key, sheet Created Date: 2/19/2021 4:18:07 AM opportunity cost Analyze how profit, incentive, and competition motivate individuals, households, and businesses Describe the circular flow that shows the interaction between consumers/households, businesses/producers, and markets Analyze how changes in technology, costs, and demand interact in The pr Practice with Opportunity Cost Analysis. Student answers may vary. Opportunity Cost Answer Key Sheet Author: www.creeksidecafesac.com-2021-02-09T00:00:00+00:01 Subject: Opportunity Cost Answer Key Sheet Keywords: opportunity, cost, answer, key, sheet Created Date: 2/9/2021 8:44:28 AM 9. Emphasize the implicit (non-money) the costs of the decision. If the economy represented in Figure 2.2 is presently producing 12 units of Good B and zero units of Good A: (A) The opportunity cost of increasing production of Good A from zero units to one unit is the loss of two unit(s) of Good B. D)the accounting cost minus the marginal cost. 5 Key Economic Assumptions. 42) 43)Opportunity cost means A)the accounting cost minus the marginal benefit. b. Answer Key UNIT 2. Handout B: Opportunity Costs 1. As long as the PPC continues to curve outward and downward, the opportunity cost of increased WMD output will (continue to rise/start to fall). Visual 2: Discussion Questions: Choosing a Snack a. In order to produce 1,500 WMD, the opportunity cost in terms of food is _____ pounds. B)the highest-valued alternative forgone. If the economy represented in Figure 1.2 is presently producing 12 units of Good B and zero units of Good A: (A) The opportunity cost of increasing production of Good A from zero units to one unit is the loss of two unit(s) of Good B. Answer Key UNIT 2. (1 per student) Handout: Practice with opportunity cost analysis (1 per student) Overhead transparencies or power points slides: Visual 1: Characteristics of Cost. D)opportunity cost. Use the table below to answer the questions. 3. AP Macro Topic 1.2 The Production Possibilities Curve Part 2 - Practice - Assume that the economy of Econland can produce robots (capital goods) and toy drones (consumer goods). C)the monetary costs of an activity. 43) 44)The opportunity cost of any action is A)the time required but not the monetary cost. Implicit costs: i. After three hours, the additional benefit from staying an additional half-hour would likely be less than the additional cost. Materials. 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