Opportunity cost of producing an additional unit of Entertainment.

Question

Bill and Melinda work for a firm that creates web pages and apps. The number of web page designs and apps each can produce in a week is given in the table below. Output per Week web pages designed apps created Bill 3 12 Melinda 2 4 What is Bill's opportunity cost of creating one app? Group of answer choices designing 3 web pages designing 1/4 web pages designing 4 web pages designing 1/3 web pages

Answer 1

Question

Chapter 3, Problem 3SPPA

To determine

Opportunity cost of producing an additional unit of Entertainment.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

Bill and Melinda work for a firm that creates web pages and apps. The number of web page designs and apps each can produce in a week is given in the table below. Output per Week web pages designed apps created Bill 3 12 Melinda 2 4 What is Bill's opportunity cost of creating one app? Group of answer choices designing 3 web pages designing 1/4 web pages designing 4 web pages designing 1/3 web pages

For the question below use the following figures which illustrate the production possibilities available to a farmer and a rancher with 12 hours of labour. For the farmer, the opportunity cost of 1 pound of potatoes is Select one: a. 4 pounds of meat b. 1 pound of meat c. 2 pounds of meat d. 0.5 pound of meat

8. A small bakery makes baguettes and muffins. With the resources available (workers, flour, machines) this bakery can produce either 1500 baguettes or 2000 muffins per day. a. What is the opportunity cost of an extra muffin in terms of baguettes? b. Assume that production is currently 1200 muffins and 600 baguettes. If the bakery wanted to expand its muffin production to 1300 muffins per day, how many baguettes would be baked?