Table 2-8
Table 2-8 shows the output per month of two people,Wilma and Betty.They can either devote their time to making marble statues or making marble benches.
-Refer to Table 2-8.What is Betty's opportunity cost of making a statue?
A)1/2 of a bench
B)2 benches
C)1/3 of a bench
D)1.4 statues

Question

Table 2-8
  Table 2-8 shows the output per month of two people,Wilma and Betty.They can either devote their time to making marble statues or making marble benches.
-Refer to Table 2-8.What is Betty's opportunity cost of making a statue?
A)1/2 of a bench 
B)2 benches 
C)1/3 of a bench 
D)1.4 statues

Quizplus · Accepted Answer

Betty's opportunity cost of making a statue is the amount of benches she could have made instead. If she can make 2 benches in the time it takes to make 1 statue, then the opportunity cost of making 1 statue is 1/2 of a bench.

Table 2-8 Table 2-8 Shows the Output Per Month of Month