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Producing one ton of copper means giving up two bushels of corn. Those two bushels are the copper's:
ARetail margin
BOpportunity cost
CMarket price
DImport duty
Answer & Solution
Correct answer: B. Opportunity cost
1. Something else had to be given up.
2. It is measured in the other good.
3. It is the opportunity cost.
_Source: OpenStax Principles of Economics 3e, Chapter 33, International Trade._
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