To determine the opportunity cost of 1 unit of food in Australia, we need to consider the trade-off between food and electronics.
- If the opportunity cost of 1 unit of food is 5 units of electronics (option a), then producing 1 unit of food means giving up 5 units of electronics.
- If the opportunity cost of 1 unit of food is 1/5 of a unit of electronics (option b), then producing 1 unit of food means giving up only 1/5 of a unit of electronics.
- If the opportunity cost of 1 unit of food is 4 units of electronics (option c), then producing 1 unit of food means giving up 4 units of electronics.
- If the opportunity cost of 1 unit of food is 1/4 of a unit of electronics (option d), then producing 1 unit of food means giving up only 1/4 of a unit of electronics.
Without additional context or data about the specific production possibilities in Australia, it's difficult to choose the correct answer. However, opportunity cost typically refers to the amount of the alternative good that must be forgone to produce one unit of the other good.
If it is given or known that producing 1 unit of food leads to a loss of 5 units of electronics, then the answer would be option a. Conversely, if it leads to a loss of only 1/4 of a unit of electronics, then the answer would be option d.
Please provide the production possibilities or any additional information if available. Otherwise, the opportunity cost as expressed in the question can vary based on real-world data or assumptions.
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