Asked by
Kimberly Risher
on Nov 11, 2024
Verified
In one week,Mohammed can knit 5 sweaters or bake 240 cookies.In one week,Aisha can knit 15 sweaters or bake 480 cookies.Aisha's opportunity cost of knitting one sweater is:
A) 240 cookies.
B) 480 cookies.
C) 32 cookies.
D) 1/32 of a cookie.
E) 16 cookies.
Opportunity Cost
The expense incurred by not choosing the second-best option during a decision-making process.
Sweaters
A knitted garment typically made of wool, cotton, or synthetic yarn, worn over the upper body for warmth.
Cookies
Small pieces of data sent from a website and stored on a user's computer by the user's web browser while the user is browsing.
- Gain an understanding of how opportunity cost influences decisions and trade-offs.
- Examine various situations to identify their specific benefits in disparate tasks or activities.
Verified Answer
RC
Learning Objectives
- Gain an understanding of how opportunity cost influences decisions and trade-offs.
- Examine various situations to identify their specific benefits in disparate tasks or activities.