Answer
It is given that for producing two million mitts, the nation must forgo the production of six million soccer balls. Thus, the opportunity cost of producing the first two million mitts is six million soccer balls.
Lastly, it is given that for producing the last two million mitts, the nation must forgo the production of ten million soccer balls. Thus, in this situation the opportunity cost of producing the last two million mitts is ten million soccer balls
Work Step by Step
Opportunity cost us the cost of the next best alternative available.
