In one week, Sami can knit 5 sweaters or bake 240 cookies. In one week, Leila can knit 15 sweaters or bake 480 cookies. Sami's opportunity cost of baking one cookie is _____

Question

Quizplus · Accepted Answer

To find the opportunity cost of baking one cookie for Sami, we need to find the ratio of the number of sweaters she can knit in a week to the number of cookies she can bake in a week.

Opportunity cost of baking one cookie for Sami = (Number of sweaters Sami can knit in a week) / (Number of cookies Sami can bake in a week)

= 5/240

= 1/48

Therefore, the answer is D.

As for the best choice, it depends on what the decision-maker's priority is. If the goal is to maximize the number of sweaters produced, then Sami should knit instead of bake since her opportunity cost of baking one cookie is equal to 1/48 of a sweater. If the goal is to maximize the number of cookies produced, then Leila should be the one to bake since she can produce more cookies in a week.

In One Week, Sami Can Knit 5 Sweaters or Bake