Table 3-3

-Refer to Table 3-3. What is the opportunity cost of 1 dress for Carolyn?
A)5 quilts.
B)1 quilt.
C)1/5 quilt.
D)4 quilts.

Question

Table 3-3
 
-Refer to Table 3-3. What is the opportunity cost of 1 dress for Carolyn?
A)5 quilts. 
B)1 quilt. 
C)1/5 quilt. 
D)4 quilts.

Quizplus · Accepted Answer

The opportunity cost of 1 dress for Carolyn is 1/5th of a quilt, as she can make 5 quilts in the same amount of time it would take her to make 1 dress. Therefore, she gives up the opportunity to make 1/5th of a quilt when she makes 1 dress.
 
The best choice is to choose option C.

Table 3-3 -Refer to Table 3-3. What Is the Opportunity Cost of the Opportunity