The following table shows the units of output a worker can produce per month in Australia and Korea. Use this table to answer question

The opportunity cost of 1 unit of food in Korea is
a. 2 units of electronics.
b. 4 units of electronics.
c. 1/2 of a unit of electronics.
d. 1/4 of a unit of electronics.

1 answer

To determine the opportunity cost of 1 unit of food in Korea, we need to understand the production capabilities in Korea specifically. The opportunity cost is calculated by looking at how many units of electronics could be produced instead of 1 unit of food.

However, the specific production numbers for food and electronics in Korea were not provided in your query. If you have those production numbers, you can calculate the opportunity cost.

The formula for opportunity cost in this context would be:

\[ \text{Opportunity Cost of 1 unit of Food} = \frac{\text{Units of Electronics that can be produced if 1 unit of Food is not produced}}{\text{Units of Food produced}} \]

For example, if producing 1 unit of food means forgoing the production of 2 units of electronics, then the opportunity cost of 1 unit of food would be 2 units of electronics.

Please provide the specific production capabilities for Korea, so we may perform the calculation accurately.