a. Maria's production possibilities frontier for reading economics and sociology can be represented by a line with a slope of -1/3, with the origin at (0,0) and the point (100,200) on the line.
b. The opportunity cost of reading 100 pages of sociology is reading 200 pages of economics.
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 oppurtunity cost of reading 100 pages of sociology?
1 answer
1 answer