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Coolguy80 Coolguy80
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2 years ago
Katie and Hugh are producing pies and jars of pickles. Katie can produce either 200 jars of pickles or 100 pies per month. Hugh can produce either 800 jars of pickles or 200 pies per month. Which of the following statements is correct?

▸ Hugh's opportunity cost of producing 1 pie is 1/4 jar of pickles.

▸ Hugh's opportunity cost of producing 1 jar of pickles is 4 pies.

▸ Katie's opportunity cost of producing 1 jar of pickles is 1/2 of a pie.

▸ Katie's opportunity cost of producing 1 jar of pickles is 2 pies.

▸ Hugh's and Katie's opportunity costs of producing are the same.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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bodie1980bodie1980
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2 years ago
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Coolguy80 Author
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2 years ago
This site is awesome
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