... pound of potatoes costs the rancher 8 pounds of meat,1 pound of meat costs the rancher 1/8 pound of potatoes. Similarly, because 1pound of potatoes costs the farmer 1/2 pound of meat, 1 pound of ... The rancher buys 1pound of potatoes for a price of 3 pounds of meat. This price of potatoes is lowerthan her opportunity cost of 1 pound of potatoes, which is 8 pounds of meat. Thus,the rancher ... opportunitycost of producing 1 pound of meat is 2 pounds of potatoes. Explain why the rancher’s opportunity cost of producing 1 pound of meat is 1/8 pound of potatoes.2. Maria can read 20 pages of economics...