Mike and Sandy are two woodworkers who both make tables and chairs.In one month,Mike can make 4 tables or 20 chairs,where Sandy can make 6 tables or 18 chairs.Given this,we know that the opportunity cost of 1 chair is
A) 1/5 table for Mike and 1/3 table for Sandy.
B) 1/5 table for Mike and 3 tables for Sandy.
C) 5 tables for Mike and 1/3 table for Sandy.
D) 5 tables for Mike and 3 tables for Sandy.

Question

Quizplus · Accepted Answer

For Mike, the opportunity cost of 1 chair is the number of tables he could have made instead. Therefore, the opportunity cost of 1 chair for Mike is 1/4 table (since he can make 4 tables or 20 chairs). For Sandy, the opportunity cost of 1 chair is also the number of tables she could have made instead, which is 1/6 table (since she can make 6 tables or 18 chairs). 
Similarly, the opportunity cost of 1 table for Mike is the number of chairs he could have made instead, which is 5 chairs (since he can make 20 chairs or 4 tables). The opportunity cost of 1 table for Sandy is the number of chairs she could have made instead, which is 3 chairs (since she can make 18 chairs or 6 tables).
Therefore, the correct answer is A: 1/5 table for Mike and 1/3 table for Sandy.

Mike and Sandy Are Two Woodworkers Who Both Make Tables