Table 2.5

Table 2.5 shows the output per week of two jewelers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.5.What is Haley's opportunity cost of making a necklace?
A)3/4 of a bracelet
B)3 bracelets
C)1 1/3 necklaces
D)2 necklaces

Question

Table 2.5

Table 2.5 shows the output per week of two jewelers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.5.What is Haley's opportunity cost of making a necklace?
A)3/4 of a bracelet 
B)3 bracelets 
C)1 1/3 necklaces 
D)2 necklaces

Quizplus · Accepted Answer

Haley's opportunity cost of making a necklace is the amount of bracelets she forgoes. If she can make 4 bracelets in the time it takes to make 3 necklaces, then the opportunity cost of one necklace is 3/4 of a bracelet.

Table 2.5 Table 2.5 Shows the Output Per Week of Two