Question

if an economy produces only smartphones and laptops, then the opportunity cost of producing more smartphones is
a the value of laptop production minus the value of smartphone production.
b the value of forgone laptop production.
c the total value of smartphone and laptop production.

Explanation:

Opportunity cost is defined as the value of the next-best alternative that must be given up to pursue a certain action. In this case, producing more smartphones means the economy has to divert resources away from laptop production, so the opportunity cost is the value of the laptops that are no longer produced.

Answer:

B. the value of forgone laptop production.