production possibilities for the shoe hut\nproduction possibilities for the shoe hut\naccording to the…

production possibilities for the shoe hut\nproduction possibilities for the shoe hut\naccording to the production possibilities curve, what is your opportunity cost for producing one pair of hiking boot inserts?\n○ three pairs of running shoe inserts\n○ two pairs of running shoe inserts\n○ ten pairs of running shoe inserts\n○ fifteen pairs of running shoe inserts

production possibilities for the shoe hut\nproduction possibilities for the shoe hut\naccording to the production possibilities curve, what is your opportunity cost for producing one pair of hiking boot inserts?\n○ three pairs of running shoe inserts\n○ two pairs of running shoe inserts\n○ ten pairs of running shoe inserts\n○ fifteen pairs of running shoe inserts

Answer

Explanation:

Step1: Identify production - possibility points

When 0 hiking boot inserts are produced (point A), 10 pairs of running shoe inserts are produced. When 1 hiking boot insert is produced (point B), 8 pairs of running shoe inserts are produced.

Step2: Calculate opportunity cost

The opportunity cost of producing 1 hiking boot insert is the decrease in running - shoe inserts production. So, (10 - 8=2) pairs of running shoe inserts.

Answer:

two pairs of running shoe inserts