In an eight-hour day, Isabel can produce 15 pounds of taffy or 3 pounds of chocolate chip cookies. In an eight-hour day, Ramona can produce 6 pounds of taffy or 6 pounds of chocolate chip cookies. The opportunity cost of producing 1 pound of chocolate chip cookies is:

Question

Makenna Collier

Mathematics

8 June, 15:37

In an eight-hour day, Isabel can produce 15 pounds of taffy or 3 pounds of chocolate chip cookies. In an eight-hour day, Ramona can produce 6 pounds of taffy or 6 pounds of chocolate chip cookies. The opportunity cost of producing 1 pound of chocolate chip cookies is:

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Answers (1)

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Gordon Cervantes · Answer 1

For Isabel:

15:3=x:1⇒3x=15⇒x=5

For Ramona:

6:6=x:1⇒x=1

The opportunity cost of producing 1 pound of chocolate chip cookies is 5 pounds of taffy for Isabel and 1 pound of taffy for Ramona.