Michael and Angelo are both artists who can create sculptures or paintings each day. The following table describes their maximum outputs per day. Use this table to answer the questions that follow.

-What is Angelo's opportunity cost of a sculpture?
A) 1/2 painting
B) 1/3 painting
C) 3 paintings
D) 1/3 sculpture
E) 6/10 sculpture

Question

Michael and Angelo are both artists who can create sculptures or paintings each day. The following table describes their maximum outputs per day. Use this table to answer the questions that follow.
 
-What is Angelo's opportunity cost of a sculpture?
A) 1/2 painting 
B) 1/3 painting 
C) 3 paintings 
D) 1/3 sculpture 
E) 6/10 sculpture

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative foregone. If Angelo's opportunity cost of a sculpture is 1/3 painting, it means he gives up 1/3 of a painting to make one sculpture.

Michael and Angelo Are Both Artists Who Can Create Sculptures