Hans can do 4 loads of laundry and type 6 pages per hour. Heidi can do 12 loads of laundry and type 8 pages per hour. Heidi's opportunity cost of typing one page is _____

Question

Quizplus · Accepted Answer

Opportunity cost is defined as the value of the next best alternative forgone. In this case, Heidi's opportunity cost of typing one page is the number of loads of laundry she could have done instead.

To find the opportunity cost, we need to calculate how many pages Heidi can type in the time it takes her to do one load of laundry, and then divide that by the number of loads of laundry she can do in the same amount of time.

Heidi can type 8 pages in one hour, which means she can type 2 pages in 15 minutes (since there are 4 quarters of an hour in one hour). In 15 minutes, she can also do 1/6 of a load of laundry, since she can do 12 loads in one hour.

Therefore, Heidi's opportunity cost of typing one page is 1/6 of a load of laundry. This means the answer is (C) equal to 3/2 of a load of laundry.

Hans Can Do 4 Loads of Laundry and Type 6