Two friends,Monica and Chandler,enjoy baking bread and making apple pies.Monica takes two hours to bake 1 loaf of bread and one hour to make 1 pie.Chandler takes four hours to bake 1 loaf of bread and four hours to make 1 pie.
-What is Monica's opportunity cost of baking 1 pie?
A) 2 pies
B) 1 pie
C) 1 loaf of bread
D) 1/2 loaf of bread
E) 2 loaves of bread

Question

Quizplus · Accepted Answer

Monica's opportunity cost of baking 1 pie is the amount of bread she could have baked in that time. Since she takes 1 hour to make a pie and 2 hours to bake a loaf of bread, she could have baked 1/2 loaf of bread in the time it takes to make 1 pie.

Two Friends,Monica and Chandler,enjoy Baking Bread and Making Apple Pies