Multiple Choice
Use the information below to answer the following questions.
Fact 2.3.1
In an eight- hour day, Andy can produce either 24 loaves of bread or 8 kilograms of butter.In an eight- hour day, Rolfe can produce either 8 loaves of bread or 8 kilograms of butter.
-Refer to Fact 2.3.1.The opportunity cost of producing 1 kilogram of butter is
A) 1 hour for Andy and 1 hour for Rolfe.
B) 3 loaves of bread for Andy and 1/3 loaf of bread for Rolfe.
C) 8 loaves of bread for Rolfe and 24 loaves of bread for Andy.
D) 3 loaves of bread for Andy and 1 loaf of bread for Rolfe.
E) 20 minutes 1/3 hour) for Andy and 1 hour for Rolfe.
Correct Answer:
Verified
Correct Answer:
Verified
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