Table 3.2
-Consider two individuals, Rose and Sharon, who produce fish and coconuts. Rose and Sharon's hourly productivity are shown in Table 3.2. Rose's opportunity cost of producing 1 coconut is:
A) 1/3 fish.
B) 3 fish.
C) 6 fish.
D) 1 1/2 fish.

Question

Table 3.2
-Consider two individuals, Rose and Sharon, who produce fish and coconuts. Rose and Sharon's hourly productivity are shown in Table 3.2. Rose's opportunity cost of producing 1 coconut is:
A) 1/3 fish. 
B) 3 fish. 
C) 6 fish. 
D) 1 1/2 fish.

Quizplus · Accepted Answer

The opportunity cost of producing 1 coconut for Rose is the amount of fish she forgoes to produce 1 coconut. If Rose can produce 3 fish in the time it takes to produce 1 coconut, then her opportunity cost of producing 1 coconut is 1/3 fish.

Table 3.2 -Consider Two Individuals, Rose and Sharon, Who Produce Fish and Fish