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Luda [366]
3 years ago
7

Amy and Bill are fixing up their house by painting walls and installing electrical outlets. In one hour, Amy can paint 8 walls,

or install 6 outlets. In one hour, Bill can paint 5 walls, or install 5 outlets
Required:
a. If Amy painted 8 walls in the first hour of work, and then switched to doing 6 outlets in the second hour of work, what was the opportunity cost of each of those outlets?
b. If Bill painted 5 walls in the first hour of work, and then switched to doing 5 outlets in the second hour of work, what was the opportunity cost of each of those outlets?
Business
1 answer:
Lelechka [254]3 years ago
3 0

Answer:

1.33 walls

1 wall

Explanation:

Tradeoff is the opportunity cost of taking a particular decision

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives

My doing he outlet, the opportunity to paint is forgone

Amy = 8/6 = 1.33

Bill = 5/5

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3 years ago
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