Scenario: Mark can make three tables and one chair in a day, while John can make four tables and one chair in a day.
-Refer to the scenario above.John's opportunity cost of making a table is ________.

Question

Quizplus · Accepted Answer

John can make four tables and one chair in a day, so his opportunity cost of making one table is the number of chairs he could have made in that time. That would be 0.25 of a chair (1 chair divided by 4 tables). Therefore, the answer is A.

The best choice is A, because it is the only option that accurately represents John's opportunity cost of making a table.

Scenario: Mark Can Make Three Tables and One Chair in a Day