Table 2-7
Table 2-7 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 2-7.What is Fred's opportunity cost of making a unicycle?

Question

Table 2-7
  Table 2-7 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 2-7.What is Fred's opportunity cost of making a unicycle?

Quizplus · Accepted Answer

Fred's opportunity cost of making a unicycle is the number of pogo sticks he could have made instead. In this case, if he makes a unicycle, he can't make any pogo sticks, so his opportunity cost is 3 pogo sticks.

The best choice(s) cannot be determined from the information given in the question. It depends on the individual preferences and goals of Fred and Barney.

Table 2-7 Table 2-7 Shows the Output Per Month of Month