Table 3-4

-Refer to Table 3-4. What is the opportunity cost of 1 birdhouse for Alberta?
A)1/3 basket.
B)1 basket.
C)4/3 baskets.
D)3 baskets.

Name: Table 3-4 -Refer to Table 3-4. What is the opportunity cost of 1 birdhouse for Alberta? A)1/3 basket. B)1 basket. C)4/3 baskets. D)3 baskets.
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Question

Table 3-4
 
-Refer to Table 3-4. What is the opportunity cost of 1 birdhouse for Alberta?
A)1/3 basket. 
B)1 basket. 
C)4/3 baskets. 
D)3 baskets.

Quizplus · Accepted Answer

The opportunity cost of 1 birdhouse for Alberta is 1/3 basket because Alberta can produce 3 birdhouses for every basket, so for each birdhouse, she gives up 1/3 of a basket.

Table 3-4 -Refer to Table 3-4. What Is the Opportunity Cost of the Opportunity