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Darina [25.2K]
3 years ago
10

Use the following table for the problem below.

Business
1 answer:
baherus [9]3 years ago
6 0

Answer:

No option is correct:

  • A. Larry offers Curly 1 ping-pong ball for 1/4 of a hat.
  • B. Curly offers Larry 1 hat for 3 ping-pong balls.
  • C. Curly offers Larry 1 hat for 4 ping-pong balls.
  • D. Larry offers Curly 1 ping-pong ball for 1/3 hat.

In order for Curly to win and Larry lose, Curly must offer 1 hat in exchange for 6 or more ping-pong balls.

  • Option A: Larry wins 1 ping-pong ball.
  • Option B: Larry wins 2 ping-pong balls.
  • Option C: Larry wins 3 ping-pong balls.
  • Option D: Larry wins 0.13 of a hat.  

Explanation:

Opportunity costs are the benefits lost or extra costs associated to choosing one investment or activity over another alternative.

In this case, Larry can either have 1 hat or 5 ping-pong balls. Curly can have 1 hat or 2 ping-pong balls.

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