Table 2-7
Table 2-7 shows the output per week of two people,Minnie and Mickey.They can either devote their time to making hats or making umbrellas.
-Refer to Table 2-7.What is Minnie's opportunity cost of making an umbrella?
A)1/10 of a hat
B)1/4 of a hat
C)4 hats
D)40 hats

Question

Table 2-7
  Table 2-7 shows the output per week of two people,Minnie and Mickey.They can either devote their time to making hats or making umbrellas.
-Refer to Table 2-7.What is Minnie's opportunity cost of making an umbrella?
A)1/10 of a hat 
B)1/4 of a hat 
C)4 hats 
D)40 hats

Quizplus · Accepted Answer

Minnie's opportunity cost of making an umbrella is the amount of hats she could have made instead. If she makes 1 umbrella instead of 4 hats, her opportunity cost is 4 hats.

Table 2-7 Table 2-7 Shows the Output Per Week of Week