Practice Question 9 Table 1 James Lucy Wagons 16 18 Tricycles 32 24 Table 1 shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles. What is James's opportunity cost of making a tricycle? Group of answer choices 1. 3/4 of a wagon 2. 2 tricycles 3. 1/2 of a tricycle 4. 1/2 of a wagon
Practice Question 9 Table 1 James Lucy Wagons 16 18 Tricycles 32 24 Table 1 shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles. What is James's opportunity cost of making a tricycle? Group of answer choices 1. 3/4 of a wagon 2. 2 tricycles 3. 1/2 of a tricycle 4. 1/2 of a wagon
Chapter2: Scarcity And Opportunity Costs
Section: Chapter Questions
Problem 4E
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Practice Question 9
Table 1
| James | Lucy |
Wagons | 16 | 18 |
Tricycles | 32 | 24 |
Table 1 shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles.
What is James's
Group of answer choices
1. 3/4 of a wagon
2. 2 tricycles
3. 1/2 of a tricycle
4. 1/2 of a wagon
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