If Germany chooses to manufacture skirts, the opportunity cost to Germany is
OC= What you sacrifice/ what you gain
0.5 sweater
Opportunity costs are the potential gains that a person, investor, or company forgoes by selecting one option over another. Opportunity costs are by nature invisible, thus it is simple to overlook them. Better choices can be made when a firm or individual is aware of the opportunities that might be lost by selecting one investment over another. Opportunity cost is a wholly internal expense that is only considered from a strategic standpoint; it is not accounted for in accounting profit and is not reported to external parties. Opportunity costs include things like choosing to build a new manufacturing facility in Los Angeles rather than Mexico City, forgoing an equipment upgrade for the business, or choosing the most expensive product packaging choice over less expensive ones.
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