THE FOLLOWING ECONOMY PRODUCES TWO PRODUCTS.REFER TO THE ABOVE TAB...

76. The following economy produces two products.Refer to the above table. The total opportunity cost of the three units of tanks is:200 units of autos.350 units of autos.→650 units of autos.1000 units of autos.To get 3 units of tanks, this economy had to give up 350 (1,000 - 650 = 350) autos. AACSB: AnalyticBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-05 Apply production possibilities analysis; increasing opportunity costs; and economic growth.Multiple Choice Question Topic: Production possibilities model