Find the answer to this question here. Super convenient online flashcards for studying and checking your answers!

(Correct Answer Below)

Reveal the answer to this question whenever you are ready.

Pat And Kris Are Roommates. They Spend

most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza.
Front

Advertisement

The opportunity cost of an item is what you give up to get that item. In this case, Pat's opportunity cost of making a pizza is the amount of root beer she gives up brewing. Making a pizza takes her 2 hours; if instead she spent her time producing root beer, she would produce 2 gal * (1 gal rb/ 4 hrs)=1/2 gallon . Similar calculations yield an opportunity cost of 2/3 gallons of root beer for one pizza for Kris. Pat Correct has an absolute advantage in making pizza, and Pat Correct has a comparative advantage in making pizza
Enter another question to find a notecard:

About the flashcard:

This flashcard is meant to be used for studying, quizzing and learning new information. Many scouting web questions are common questions that are typically seen in the classroom, for homework or on quizzes and tests. Flashcards vary depending on the topic, questions and age group. The cards are meant to be seen as a digital flashcard as they appear double sided, or rather hide the answer giving you the opportunity to think about the question at hand and answer it in your head or on a sheet before revealing the correct answer to yourself or studying partner. Some questions will include multiple choice options to show you the options involved and other questions will just have the questions and corrects answers. Simply reveal the answer when you are ready to check your work. Absolutely no cheating is acceptable.

You May also Like:

[wcp-carousel id="1853"]