Scenario The economic concept of cost differs from the everyday notion of a monetary payment. In…

Scenario
The economic concept
of cost differs from the everyday notion of a monetary payment. In
economics, the cost of doing something is what you have to give up
to be able to do it. In this sense, you can face a cost even if you
do not have to pay anyone anything. Economists refer to this as an
opportunity cost.

Suppose that a farmer has land that can produce 20 bushels of corn
per acre or 10 bushels of wheat per acre. She currently is
producing 100 bushels of corn and 100 bushels of wheat.
What is the
opportunity cost to the farmer, measured in bushels of corn, of
producing an additional 20 bushels of wheat (answer with
numbers only.)
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Answer: