Use the following scenario to answer the questions that follow.
Esther and Albert produce hamburgers and hot dogs. Esther can produce six hamburgers per hour or four hot dogs per hour. Albert can produce three hamburgers per hour or one hot dog per hour.
-Based on the scenario,Albert's opportunity cost of one hamburger is ________ hot dog(s).

Question

Quizplus · Accepted Answer

Albert's opportunity cost of producing one hamburger is the number of hot dogs he could have produced instead. Since he can produce 1 hot dog per hour, the opportunity cost of producing 1 hamburger (which takes 1/3 of his hot dog production time) is 1/3 hot dog.

Use the Following Scenario to Answer the Questions That Follow