everglades's opportunity cost of producing 1 pound of pistachios is of chinos, and glacier's opportunity cost of producing 1 pound of pistachios is of chinos. therefore, has a comparative advantage in the production of pistachios, and has a comparative advantage in the production of chinos.

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16-12-2022
Business

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everglades's opportunity cost of producing 1 pound of pistachios is of chinos, and glacier's opportunity cost of producing 1 pound of pistachios is of chinos. therefore, has a comparative advantage in the production of pistachios, and has a comparative advantage in the production of chinos.

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NomulaHarsh NomulaHarsh · Answer 1 · 2022-12-21T12:16:47+01:00

Opportunity cost is the difference between the value of a different option and the value of the one that is selected.

Opportunity cost is a notion used in decision-making to assist people and organisations in making better decisions, primarily by taking the alternatives into account.

What are the advantages of opportunity costs?

One of the key advantages of opportunity costs is that they make you contemplate the fact that, when choosing between possibilities, you lose something in the one that is not chosen. Considering your opportunity cost also gives you the ability to assess the relative costs and advantages of other options, which is a crucial advantage. Choose the option that delivers the best overall value for your money by comparing the total costs of each.

To know more about opportunity costs, click here- brainly.com/question/1549591

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