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Laurent Laurent
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6 years ago
In an eight-hour day, Andy can produce either 24 loaves of bread or 8 kilograms of butter.
In an eight-hour day, Rolfe can produce either 8 loaves of bread or 8 kilograms of butter.

Based on the information above, the opportunity cost of producing 1 loaf of bread is
A) 1 hour for Andy and 20 minutes (1/3 hour) for Rolfe.
B) 1/3 kilogram of butter for Andy and 1 kilogram of butter for Rolfe.
C) 3 kilograms of butter for Andy and 1 kilogram of butter for Rolfe.
D) 8 kilograms of butter for both Andy and Rolfe.
E) not calculable from the given information.
Textbook 
Microeconomics for Life: Smart Choices for You

Microeconomics for Life: Smart Choices for You


Edition: 2nd
Author:
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holymanholyman
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6 years ago
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Laurent Author
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6 years ago
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patod1
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Good timing, thanks!
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