Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day

Question

3 years ago

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Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day

studying. a. Draw Maria’s production possibilities frontier for reading economics and sociology. b. What is Maria’s opportunity cost of reading 100 pages of sociology?

Business

1 answer:

Darya [45] · Answer 1 · 2022-06-22T17:38:06+03:00

Answer:

a) Number of Economics pages that can be read in 5 hours = 5 * 20 = 100

Number of Sociology pages that can be read in 5 hours = 5 * 50 = 250

Find attached production possibility Frontier diagram showing Economics pages and sociology pages that Maria can read in 5 hours

b) It takes two hours to Maria to read 100 sociology pages, meaning in 2 hours, number of Economics pages that Maria can read = 20 * 2 = 40

Opportunity cost of reading 100 pages of sociology is the number of Economics pages forgone, which is equal to 40 pages.

Explanation: