Aplia Homework: Economic Tools and Economic Systems Back to Assignment Attempts:

Question

Aplia Homework: Economic Tools and Economic Systems Back to Assignment Attempts: 0 Average: 0/1 2. Who has the lowest opportunity cost? Alyssa and Tim need to decide which one of them will take time off from work to complete the rather urgent task of shearing their lamas. Alyssa is pretty good with a pair of shears; she can shear the llamas in 30 minutes. Tim is somewhat slow, it takes him 4 hours to shear the iarmas. Alyssa earns $130 per hour as a business consultant, while Tim earns $10 per hour as a lifeguard. has the lowest opportunity cost of completing the Keeping in mind that either Alyssa or Tim must take time off from work to shear the liamas, who task? O Alyssa Tim Alyssa and Tim face identical opportunity costs

Explanation / Answer

Ans. Alyssa has the lowest opportunity cost of completing the task. So the correct option is A. For Alyssa, the opportunity cost is 30/130 = 0.23 and for Tim the opportunity cost is 240/10 = 24. So Alyssa has lower opportunity cost.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.