Figure 3-4
-Refer to Figure 3-4. For Jerry, what is the opportunity cost of one bottle of beer?
A) 1/3 bottle of wine
B) 1/2 bottle of wine
C) 1 bottle of wine
D) 3 bottles of wine

Question

Figure 3-4 
-Refer to Figure 3-4. For Jerry, what is the opportunity cost of one bottle of beer?
A) 1/3 bottle of wine 
B) 1/2 bottle of wine 
C) 1 bottle of wine 
D) 3 bottles of wine

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