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lmalma lmalma
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5 years 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.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
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kwashington67kwashington67
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5 years ago
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lmalma Author
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