Table 3-25
Assume that Maya and Miguel can switch between producing mixers and producing toasters at a constant rate.

-Refer to Table 3-25. The opportunity cost of 1 toaster for Maya is
A)0.625 mixers.
B)1.6 hours of labor.
C)1.6 mixers.
D)8 hours of labor.

Question

Table 3-25
Assume that Maya and Miguel can switch between producing mixers and producing toasters at a constant rate.
​ 
-Refer to Table 3-25. The opportunity cost of 1 toaster for Maya is
A)0.625 mixers. 
B)1.6 hours of labor. 
C)1.6 mixers. 
D)8 hours of labor.

Quizplus · Accepted Answer

The opportunity cost of 1 toaster for Maya is 0.625 mixers, as it represents the number of mixers she forgoes to produce one additional toaster.

Table 3-25 Assume That Maya and Miguel Can Switch Between Producing Mixers