Table 2-10
Table 2-10 shows the output per month of two people, Fred and Barney. They can either devote their time to making pogo sticks or making unicycles.
-Refer to Table 2-10. What is Fred's opportunity cost of making a unicycle?
A) 1/3 pogo stick
B) 3 pogo sticks
C) 1/2 unicycle
D) 1.3 pogo sticks

Question

Table 2-10
  Table 2-10 shows the output per month of two people, Fred and Barney. They can either devote their time to making pogo sticks or making unicycles.
-Refer to Table 2-10. What is Fred's opportunity cost of making a unicycle?
A) 1/3 pogo stick 
B) 3 pogo sticks 
C) 1/2 unicycle 
D) 1.3 pogo sticks

Quizplus · Accepted Answer

Fred's opportunity cost of making a unicycle is the number of pogo sticks he could have made instead. If Fred can make 3 pogo sticks in the time it takes to make 1 unicycle, then his opportunity cost is 3 pogo sticks.

Table 2-10 Table 2-10 Shows the Output Per Month of Month