For an economy which last year produced only two commodities X and Y, the real cost of the quantity of X which it produced can be measured by the?

For an economy which last year produced only two commodities X and Y, the real cost of the quantity of X which it produced can be measured by the?

Answer Details

The real cost of producing a commodity refers to the opportunity cost, which is the value of the next best alternative foregone. In this case, the real cost of the quantity of X produced can be measured by the total amount of Y that the economy could have produced with the same resources used to produce X. This means that producing X comes at the cost of the forgone production of Y, and the real cost of X is the amount of Y that could have been produced instead. Therefore, the answer is "total amount of Y it could have produced."