Figure 3-4
-Refer to Figure 3-4. For Jerry, what is the opportunity cost of one bottle of beer?

Name: Figure 3-4 -Refer to Figure 3-4. For Jerry, what is the opportunity cost of one bottle of beer?
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Question

Figure 3-4 
-Refer to Figure 3-4. For Jerry, what is the opportunity cost of one bottle of beer?

Quizplus · Accepted Answer

The opportunity cost of one bottle of beer is the amount of wine Jerry has to give up to produce one more bottle of beer. If Jerry can produce 3 bottles of beer for every bottle of wine, then the opportunity cost of one bottle of beer is 1/3 bottle of wine.

Figure 3-4 -Refer to Figure 3-4. for Jerry, What Is the Opportunity