For an economy which last year produced only two commodities X and Y, the real...
ECONOMICS
JAMB 1992
For an economy which last year produced only two commodities X and Y, the real cost of the quantity of X which it produced can be measured by the?
- A. amount of X it could not produced
- B. amount of Y it produced
- C. total amount of Y it could have produced
- D. extra amount of Y it could have produced
Correct Answer: C. total amount of Y it could have produced
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