Table 3-6
Assume that Hilda and Carlos can switch between producing quilts and producing dresses at a constant rate.

-Refer to Table 3-6.The opportunity cost of 1 dress for Hilda is
A) 1/3 quilt.
B) 3 hours of labor.
C) 3 quilts.
D) 10 hours of labor.

Question

Table 3-6
Assume that Hilda and Carlos can switch between producing quilts and producing dresses at a constant rate.
 
-Refer to Table 3-6.The opportunity cost of 1 dress for Hilda is
A) 1/3 quilt. 
B) 3 hours of labor. 
C) 3 quilts. 
D) 10 hours of labor.

Quizplus · Accepted Answer

According to the table, Hilda can produce 3 quilts in 1 hour and she can produce 1 dress in 3 hours. Therefore, the opportunity cost of 1 dress for Hilda is 1/3 quilt, as she could have produced 1 quilt in the time it takes her to produce a dress.

Table 3-6 Assume That Hilda and Carlos Can Switch Between Producing Quilts