Figure 3-4

-Refer to Figure 3-4.The opportunity cost of 1 novel for Perry is
A) 1/6 poem.
B) 2 poems.
C) 6 poems.
D) 12 poems.

Name: Figure 3-4 -Refer to Figure 3-4.The opportunity cost of 1 novel for Perry is A) 1/6 poem. B) 2 poems. C) 6 poems. D) 12 poems.
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Question

Figure 3-4
 
-Refer to Figure 3-4.The opportunity cost of 1 novel for Perry is
A) 1/6 poem. 
B) 2 poems. 
C) 6 poems. 
D) 12 poems.

Quizplus · Accepted Answer

The opportunity cost of 1 novel for Perry is 6 poems because Perry can produce either 1 novel or 6 poems. Therefore, for each novel produced, Perry gives up the opportunity to produce 6 poems.

Figure 3-4 -Refer to Figure 3-4.The Opportunity Cost of 1 Novel for of 1