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At her current production level, she can increase her production of cheese by 5 grams, if she reduces her production of milk by one liter. Alternatively, she can increase her production of milk by one liter if she decreases her production of cheese by 5 grams. This means that the opportunity cost of milk is 5 grams of cheese per liter of milk.

If you turn this measure of cost around, what is the opportunity cost of cheese in liters of milk per gram of cheese?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M950680

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