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19 May, 08:57

Each day, Ted can wax 8 cars or wash 10 cars, and Tom can wax 3 cars or wash 5 cars. What is each man's opportunity cost of washing a car?

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  1. 19 May, 09:26
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    1/2

    Explanation:

    This will lead us to simultaneous equation since there are two person involved doing the same job each day.

    For Ted;

    Since Ted can wax 8 cars or wash 10 cars in a day. Mathematically, we have

    8x + 10w = 1 ... (1)

    Where x is for waxing cars, w is for washing cars

    Similarly for Tom,

    Tom can wax 3 cars or wash 5 cars in a day as well, this gives us;

    3x + 5w = 1 ... (2)

    Equating 1 and 2, we have;

    8x + 10w = 1 ... (1)

    3x + 5w = 1 ... (2)

    Using elimination method, we will multiply eqn 1 by 3 and eqn 2 by 8 to have;

    24x + 30w = 3

    24x + 40w = 8

    Subtracting eqn 4 from 5 we have;

    30w - 40w = 3 - 8

    -10w = - 5

    w = 5/10

    w = 1/2

    Therefore each man's opportunity cost of washing a car is 1/2
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