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wrote...
Posts: 162
2 months ago

Question 1.

Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Fred's opportunity cost to produce one cake is

• two pies.

• one-half pie.

• six pies.

• four pies.

Question 2.

Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Ethel's opportunity cost to produce one cake is

• two pies.

• four pies.

• one-half pie.

• six pies.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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Answer verified by a subject expert
wrote...
Posts: 171
2 months ago
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Answer 1

two pies.

Answer 2

four pies.
1
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