Figure 3-3

-Refer to Figure 3-3.Fred would incur an opportunity cost of 3 ballet slippers if he
A)increased his production of tap shoes by 4.
B)increased his production of tap shoes by 5.
C)decreased his production of tap shoes by 4.
D)increased the time he spends on the two activities from 40 hours to 50 hours.

Question

Figure 3-3
 
-Refer to Figure 3-3.Fred would incur an opportunity cost of 3 ballet slippers if he
A)increased his production of tap shoes by 4. 
B)increased his production of tap shoes by 5. 
C)decreased his production of tap shoes by 4. 
D)increased the time he spends on the two activities from 40 hours to 50 hours.

Quizplus · Accepted Answer

The opportunity cost of 3 ballet slippers for Fred is incurred when he increases his production of tap shoes by 5, as this is the trade-off shown in the production possibilities.

Figure 3-3 -Refer to Figure 3-3.Fred Would Incur an Opportunity Cost of an Opportunity