Use the following scenario to answer the next questions:
Esther and Ebenezer produce hamburgers and hot dogs. Esther can produce six hamburgers per hour or four hot dogs per hour. Ebenezer can produce three hamburgers per hour or one hot dog per hour.
-Based on the scenario, Esther’s opportunity cost of one hot dog is ________ hamburgers.

Question

Quizplus · Accepted Answer

Esther's opportunity cost of producing one hot dog is the amount of hamburgers she could have produced instead. Since she can produce four hot dogs per hour or six hamburgers per hour, for every hot dog produced, she gives up 1.5 hamburgers (6 hamburgers / 4 hot dogs = 1.5 hamburgers per hot dog).

Use the Following Scenario to Answer the Next Questions