To determine the opportunity cost of producing additional bagels and croissants, we need to analyze the changes in the quantities produced across the different days.
Let's first look at the impact of producing more bagels on Day 2 compared to Day 1:
1. Day 1 vs Day 2:
- Quantity of doughnuts on Day 1: 600
- Quantity of bagels on Day 1: 70
- Quantity of croissants on Day 1: 50
- Quantity of doughnuts on Day 2: 500
- Quantity of bagels on Day 2: 140
- Quantity of croissants on Day 2: 50
From Day 1 to Day 2:
- Bagels increase by 70 (140 - 70 = 70)
- Doughnuts decrease by 100 (500 - 600 = -100)
- Croissants remain the same (50 - 50 = 0)
The opportunity cost of producing 70 additional bagels on Day 2 is the decrease in the number of doughnuts, which is 100 doughnuts.
Next, let’s look at the impact of producing more croissants on Day 3 compared to Day 2:
2. Day 2 vs Day 3:
- Quantity of doughnuts on Day 2: 500
- Quantity of bagels on Day 2: 140
- Quantity of croissants on Day 2: 50
- Quantity of doughnuts on Day 3: 500
- Quantity of bagels on Day 3: 70
- Quantity of croissants on Day 3: 100
From Day 2 to Day 3:
- Croissants increase by 50 (100 - 50 = 50)
- Doughnuts remain the same (500 - 500 = 0)
- Bagels decrease by 70 (70 - 140 = -70)
The opportunity cost of producing 50 additional croissants on Day 3 is the corresponding change in the number of doughnuts produced, which is 0 doughnuts.
To summarize:
- On Day 2, the opportunity cost of producing 70 more bagels is 100 doughnuts.
- On Day 3, the opportunity cost of producing 50 more croissants is 0 doughnuts.
