Maria Maya Good X Good Y Good X Good Y 90 0 60 0 60 30 40 10 30 60 20 20 0 90 0 30 Refer to Exhibit 3. For Maya, the opportunity cost of producing one unit of good X is unit(s) of good Y.

The answer is

0.5 units of Good Y

Explanation:

The tabulated data is not properly arranged, let me try to arrange the data:

           Maria                          Maya

Good X    Good Y           Good X    Good Y

     90          0                      60            0

     60          30                    40            10

     30          60                    20            20

     0            90                    0              30

Opportunity cost refer to the amount of benefit given up by the choosing of an alternative. In this example, as quantity of Good Y increased for Maya, the quantity of Good X reduced, hence Good X was given up to acquire Good Y

To calculate the oppotunity cost for producing one unit of good X for Maya, we will find the ratio of the difference between the highest and the lowest quatities for each good.

Good X ; (Highest quantity) - (Lowerst quantity) =  60 - 0 = 60

Good Y ; (Highest quantity) - (Lowerst quantity) =  30 - 0 = 30

∴ Opportunity cost of producing one unit of good X= 30 ÷ 60 = 0.5 units of good Y

This means that for every one unit of X produced, 0.5 unit of Y is given up in the process

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answer///supply is elastic, and demand is inelastic;