Scenario: Viola and Davis are two students who are taking a math class and an English class. The graph below shows the production possibilities curves for each of them.

-Refer to the scenario above.What is the opportunity cost of one math homework assignment for Viola?
A) 9 English essays
B) 3 English essays
C) 0.5 English essays
D) 0.33 English essays

Question

Scenario: Viola and Davis are two students who are taking a math class and an English class. The graph below shows the production possibilities curves for each of them.
 
-Refer to the scenario above.What is the opportunity cost of one math homework assignment for Viola?
A) 9 English essays 
B) 3 English essays 
C) 0.5 English essays 
D) 0.33 English essays

Quizplus · Accepted Answer

Opportunity cost is calculated by comparing the ratio of what is given up to what is gained. If Viola can complete 3 math assignments in the time it takes to complete 1 English essay, then the opportunity cost of one math assignment is 1/3 of an English essay, which is 0.33.

Scenario: Viola and Davis Are Two Students Who Are Taking