In one hour,Mr.X can produce 50 cans of tuna or 100 bags of potato chips.In one hour,Mr.Y can produce 20 cans of tuna or 30 bags of potato chips.Mr.________ has the lower opportunity cost of producing cans of tuna and Mr.________ has the lower opportunity cost of producing bags of potato chips.

Question

Quizplus · Accepted Answer

Mr. Y has the lower opportunity cost of producing cans of tuna because for every can of tuna he produces, he gives up 1.5 bags of potato chips (30/20), whereas Mr. X gives up 2 bags of potato chips for every can of tuna (100/50). Mr. X has the lower opportunity cost of producing bags of potato chips because for every bag of potato chips he produces, he gives up 0.5 cans of tuna (50/100), whereas Mr. Y gives up 0.67 cans of tuna for every bag of potato chips (20/30).

In One Hour,Mr