O-LevelEconomicsThe basic economic problem2281/12 · May/June 2021 · Q31 Mark
A farmer sells land used for crops to a firm that will use the land for wind turbines to produce electric power. What is the opportunity cost of this decision by the farmer?
Athe cost of installing wind turbines
Bthe loss of revenue from crops that grow on the land
Cthe profit made from selling the land
Dthe reduced cost of producing renewable energy
✓ Correct answer
B: the loss of revenue from crops that grow on the land
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