Table 2-6
Table 2-6 shows the output per week of two people,James and Lucy.They can either devote their time to making wagons or making tricycles.
-Refer to Table 2-6.What is Lucy's opportunity cost of making a tricycle?
A)3/4 of a wagon
B)3 wagons
C)1 1/3 tricycles
D)2 tricycles

Question

Table 2-6
  Table 2-6 shows the output per week of two people,James and Lucy.They can either devote their time to making wagons or making tricycles.
-Refer to Table 2-6.What is Lucy's opportunity cost of making a tricycle?
A)3/4 of a wagon 
B)3 wagons 
C)1 1/3 tricycles 
D)2 tricycles

Quizplus · Accepted Answer

Lucy's opportunity cost of making a tricycle is the amount of wagons she forgoes. If she can make 4 tricycles or 3 wagons, then the opportunity cost of 1 tricycle is 3/4 of a wagon.

Table 2-6 Table 2-6 Shows the Output Per Week of Week