Table 3-6 $$\begin{array} { c c c c c }
&&& { \text { Labor Hours Needed to } } &&&& { \text { Amount } } \
&&& { \text { Make 1 Pound of } } &&&& \text { Produced in } 40 \text { hours } \\hline
\end{array}$$
$$\begin{array} { c c c c c }
& \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \
\hline \text { Farmer A } & 8 \text { hours/pound } & 5 \text { hours/pound } & 5 \text { pounds } & 8 \text { pounds } \
\text { Farmer B } & 4 \text { hours/pound } & 10 \text { hours/pound } & 10 \text { pounds } & 4 \text { pounds }
\end{array}$$
-Refer to Table 3-6.For farmer A,the opportunity cost of 1 pound of meat is
A)0.625 pound of potatoes.
B)1.6 pounds of potatoes.
C)5 pounds of potatoes.
D)8 pounds of potatoes.

Question

Table 3-6 $$\begin{array} { c c c c c } 
&&&  { \text { Labor Hours Needed to } } &&&& { \text { Amount } } \
&&&  { \text { Make 1 Pound of } } &&&& \text { Produced in } 40 \text { hours } \\hline
\end{array}$$
$$\begin{array} { c c c c c } 
& \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \
\hline \text { Farmer A } & 8 \text { hours/pound } & 5 \text { hours/pound } & 5 \text { pounds } & 8 \text { pounds } \
\text { Farmer B } & 4 \text { hours/pound } & 10 \text { hours/pound } & 10 \text { pounds } & 4 \text { pounds }
\end{array}$$
-Refer to Table 3-6.For farmer A,the opportunity cost of 1 pound of meat is
A)0.625 pound of potatoes.
B)1.6 pounds of potatoes.
C)5 pounds of potatoes.
D)8 pounds of potatoes.

Quizplus · Accepted Answer

Farmer A takes 8 hours to produce 1 pound of meat and 5 hours to produce 1 pound of potatoes. Therefore, in the time it takes to produce 1 pound of meat, Farmer A could produce 8/5 = 1.6 pounds of potatoes.

Table 3-6 -Refer to Table 3-6