In an eight-hour day, Isabel can produce 15 pounds of taffy or 3 pounds of chocolate chip cookies. In an eight-hour day, Ramona can produce 6 pounds of taffy or 6 pounds of chocolate chip cookies. The opportunity cost of producing 1 pound of chocolate chip cookies is
A) one-fifth of an hour for Isabel and one hour for Ramona.
B) one hour for Isabel and one hour for Ramona.
C) five pounds of taffy for Isabel and one pound of taffy for Ramona.
D) one-fifth of a pound of taffy for Isabel and one pound of taffy for Ramona.
Correct Answer:
Verified
Q146: (Table) The table shows coffee and tea
Q147: Increasing opportunity costs occur along the production
Q148: Comparative advantage stems from differences in the
Q149: Points that are unattainable for an economy
Q150: (Table) Based on the table 
Q152: (Figure: Interpreting PPF Shifts) According to the
Q153: In economics, the term "land" includes
A) mostly
Q154: One country has a comparative advantage in
Q155: Zetaland produces widgets and gadgets. At current
Q156: Labor as a factor of production includes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents