In one hour, Francis can read 10 pages of an economics textbook or read 20 pages of an accounting textbook. Francis' opportunity cost of reading a page of economics is 2 pages of accounting.

Question

Quizplus · Accepted Answer

The opportunity cost of reading a page of economics is the number of pages of accounting Francis could have read instead. In this case, if Francis read 10 pages of economics, he could have read 20 pages of accounting. Therefore, the opportunity cost of 1 page of economics is 2 pages of accounting.

In One Hour, Francis Can Read 10 Pages of an Economics