Table 2-9
Table 2-9 shows the output per week of two jewelers, Serena and Haley. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-9. What is Haley's opportunity cost of making a necklace?
A) 3/4 of a bracelet
B) 3 bracelets
C) 1 1/3 necklaces
D) 2 necklaces

Question

Table 2-9
  Table 2-9 shows the output per week of two jewelers, Serena and Haley. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-9. What is Haley's opportunity cost of making a necklace?
A) 3/4 of a bracelet 
B) 3 bracelets 
C) 1 1/3 necklaces 
D) 2 necklaces

Quizplus · Accepted Answer

Haley's opportunity cost of making a necklace is the amount of bracelets she forgoes. If she can make 3 bracelets in the time it takes to make 4 necklaces, then the opportunity cost of 1 necklace is 3/4 of a bracelet.

Table 2-9 Table 2-9 Shows the Output Per Week of Week