### Production Options Table| Option | Output of Trucks per Day | Output of Tanks per Day ||---------|--------------------------|-------------------------|| A | 5 | 0 || B | 4 | 2.0 || C | 3 | 3.0 || D | 2 | 3.8 || E | 1 | 4.5 || F | 0 | 5.0 |### Production Possibilities CurveThe graph depicts a concave curve labeled the Production Possibilities Curve (PPC). The x-axis represents the "Output of Tanks (per day)" and the y-axis represents the "Output of Trucks (per day)."- **Point A**: At 5 trucks and 0 tanks.- **Point B**: At 4 trucks and 2 tanks.- **Point C**: At 3 trucks and 3 tanks.- **Point D**: At 2 trucks and 3.8 tanks.- **Point E**: At 1 truck and 4.5 tanks.- **Point F**: At 0 trucks and 5 tanks.### QuestionWhat is the opportunity cost of the second truck produced?**Instructions**: Round your response to one decimal place.[ ] tank(s)

Opportunity Cost: It refers to the foregone revenue on the next best alternative if we pick a…

Refer to the table and figure below: Option A Option B Option C Option D Option E Option F Output of Trucks (per day) 5 A 2 Production Options Output of Trucks Output of Tanks per Day per Day 5 0 2.0 3.0 3.8 4.5 5.0 A 4 tank(s) 3 2 1 0 Production Possibilities Curve B C 1 2 3 4 E F 5 6 Output of Tanks (per day) What is the opportunity cost of the second truck produced? Instructions: Round your response to one decimal place.

Refer to the table and figure below: Option A Option B Option C Option D Option E Option F Output of Trucks (per day) 5 A 2 Production Options Output of Trucks Output of Tanks per Day per Day 5 0 2.0 3.0 3.8 4.5 5.0 A 4 tank(s) 3 2 1 0 Production Possibilities Curve B C 1 2 3 4 E F 5 6 Output of Tanks (per day) What is the opportunity cost of the second truck produced? Instructions: Round your response to one decimal place.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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