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The table below illustrates that, in one day, Tristan can produce either 12 fishing lures or mow 3 ...

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The table below illustrates that, in one day, Tristan can produce either 12 fishing lures or mow 3 ...

The table below illustrates that, in one day, Tristan can produce either 12 fishing lures or mow 3 lawns, while Thomas can produce either 6 fishing lures or mow 6 lawns.

	Fishing Lures	Mowed Lawns
Tristan	12	3
Thomas	6	6

TABLE 1-1

Refer to Table 1-1. Which of the following statements about Tristan's and Thomas's opportunity costs is correct?

▸ Tristan has a higher opportunity cost of producing mowed lawns.

▸ Tristan has a higher opportunity cost of producing fishing lures.

▸ Thomas has a higher opportunity cost of producing mowed lawns.

▸ Thomas has a higher opportunity cost of producing fishing lures.

▸ Both A and D are correct.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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elacevedo

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More solutions for this book are available here

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rolotony Author

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Helped a lot

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this is exactly what I needed

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Good timing, thanks!

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