Answer: 1/3 hot dog per hour
Explanation: Opportunity cost is a term used by economists to mean what you have to forego in order to choose something else. Opportunity cost refers to what you have to sacrifice to buy what you want in terms of other services or goods.
In this case Albert can produce 3 hamburgers in one hour, and also he can produce 1 hot dog in 1 hour
it can expressed:
1 hot dog = 1 hour
3 hamburger= 1 hour
Equating both equations and simplifying it gives:
1 hamburger = 1/3 hot dogs
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