Use the following scenario to answer the next four questions:
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:

Question

Quizplus · Accepted Answer

Albert's opportunity cost of producing one hamburger is the amount of hot dogs he forgoes, which is 1/3 of a hot dog, since he can produce 1 hot dog in the time it takes to produce 3 hamburgers.

Use the Following Scenario to Answer the Next Four Questions