Table 3.1
-Table 3.1 illustrates Willy and Blythe's hourly production for apples and carrots. Based on the table, Willy's opportunity cost of 1 apple is:

Question

Quizplus · Accepted Answer

According to the table, Willy produces 3 apples per hour and 2 carrots per hour, while Blythe produces 1 apple per hour and 2 carrots per hour. Therefore, Willy's opportunity cost of producing 1 apple is giving up the production of 1.5 carrots (2 carrots/2 apples). This simplifies to 2/3 of a carrot, which is option D. Willy could produce 2/3 of a carrot in the time it takes him to produce 1 apple, so it would be more efficient for him to produce carrots instead of apples.

Table 3.1 -Table 3.1 Illustrates Willy and Blythe's Hourly Production for Apples