Figure 3-3

-Refer to Figure 3-3. Tanek's opportunity cost of one burrito is

Question

Figure 3-3
  
-Refer to Figure 3-3. Tanek's opportunity cost of one burrito is

Quizplus · Accepted Answer

Opportunity cost is calculated by the ratio of what is given up to what is gained. Without seeing Figure 3-3, the correct answer typically involves comparing the production possibilities of two goods for each individual. If Tanek's opportunity cost of one burrito is 4/3 tacos, it means for every burrito Tanek makes, they give up 4/3 of a taco. If Kalene's opportunity cost of one burrito is 2 tacos, it means for every burrito Kalene makes, they give up 2 tacos. This answer choice correctly reflects the concept of opportunity cost for both individuals.

Figure 3-3 -Refer to Figure 3-3. Tanek's Opportunity Cost of One Burrito