Mike and Sandy are two woodworkers who both make tables and chairs.In one month,Mike can make 4 tables or 20 chairs,where Sandy can make 6 tables or 18 chairs.Given this,we know that the opportunity cost of 1 chair is
A)1/5 table for Mike and 1/3 table for Sandy.
B)5 tables for Mike and 3 tables for Sandy.
C)1/3 table for Mike and 1/5 table for Sandy.
D)3 tables for Mike and 5 tables for Sandy.

Question

Quizplus · Accepted Answer

The opportunity cost of 1 chair for Mike is 1/5 table (since 20 chairs = 4 tables, 1 chair = 1/5 table). For Sandy, it is 1/3 table (since 18 chairs = 6 tables, 1 chair = 1/3 table).

Mike and Sandy Are Two Woodworkers Who Both Make Tables