(Answered) How do you calculate opportunity costsuppose canada can

Engineering

How do you calculate opportunity cost?

Suppose Canada can produce 1,500 tons of wheat or 500 tons of steel, and Brazil can produce 1,000 tons of wheat or 1,500 tons of steel.

What is the opportunity cost of one ton of wheat in Canada?

What is the opportunity cost of one ton of steel in Brazil?

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