Refer to the accompanying table. Julia's opportunity cost of making a pie is: $$\begin{array} { | l | c | c | }
\hline & \text { Time ta Make a Pie } & \text { Tirne to Muke a Cake } \
\hline \text { Martha } & 60 \text {minutes } & 80 \text { minutes } \
\hline \text { Julia } & 50 \text { minutes } & 60 \text { minutes } \
\hline
\end{array}$$
A)60 cakes.
B)6 cakes.
C)6/5 of a cake.
D)5/6 of a cake.

Question

Refer to the accompanying table. Julia's opportunity cost of making a pie is: $$\begin{array} { | l | c | c | } 
\hline & \text { Time ta Make a Pie } & \text { Tirne to Muke a Cake } \
\hline \text { Martha } & 60 \text {minutes } & 80 \text { minutes } \
\hline \text { Julia } & 50 \text { minutes } & 60 \text { minutes } \
\hline
\end{array}$$  
A)60 cakes.
B)6 cakes.
C)6/5 of a cake.
D)5/6 of a cake.

Quizplus · Accepted Answer

Julia's opportunity cost of making a pie is the amount of cake she could have made in the same time. Since she can make a cake in 60 minutes and a pie in 50 minutes, the opportunity cost is 50/60 or 5/6 of a cake.

Refer to the Accompanying Table A)60 Cakes