Questions: A farmer produces both beans and corn on her farm. If she must give up 16 bushels of corn to get 6 bushels of beans, her opportunity cost of 1 bushel of beans is 0.38 bushels of corn. 16.00 bushels of corn. 2.67 bushels of corn. 2.99 bushels of corn.

The answer is C: 2.67 bushels of corn.

Explanation: Opportunity cost is the value of the next best alternative that must be given up to obtain something else. In this case, the farmer must give up 16 bushels of corn to produce 6 bushels of beans. To find the opportunity cost of 1 bushel of beans, we need to determine how many bushels of corn are given up for each bushel of beans.

We can calculate this by dividing the total bushels of corn given up by the total bushels of beans obtained:

\[ \text{Opportunity cost of 1 bushel of beans} = \frac{\text{Bushels of corn given up}}{\text{Bushels of beans obtained}} \]

\[ \text{Opportunity cost of 1 bushel of beans} = \frac{16 \text{ bushels of corn}}{6 \text{ bushels of beans}} \]

\[ \text{Opportunity cost of 1 bushel of beans} = 2.67 \text{ bushels of corn} \]

Therefore, the opportunity cost of 1 bushel of beans is 2.67 bushels of corn.