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Opportunity Cost

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Assume the US can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, the cost of producing Toyotas 1,000,000 yen, and the cost of producing Chevrolets at 500,000 yen. In terms of Chevrolets, what is the opportunity cost of producing Toyotas in each country?

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Assume the US can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, the cost of producing Toyotas 1,000,000 yen, and the cost of producing Chevrolets at 500,000 yen. In terms of Chevrolets. The expert determines what the opportunity cost of producing Toyotas in each country is.

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The opportunity cost of producing Toyota in terms of Chevrolet in USA is: ...

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Sheetal Jain, PGDM
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  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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