Table 2.4 Table 2.4 shows the output per week of two jewellers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.4.What is Serena's opportunity cost of making a necklace?

Question

Table 2.4  Table 2.4 shows the output per week of two jewellers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.4.What is Serena's opportunity cost of making a necklace?

Quizplus · Accepted Answer

Serena's opportunity cost of making a necklace is what she gives up to make one more necklace, which is measured in terms of the other good, bracelets. If the information in Table 2.4 indicates that Serena sacrifices 1/2 of a bracelet to produce an additional necklace, then that is her opportunity cost.

Table 24 Table 2