Question

In an eight-hour day, Isabel can produce 15 pounds of taffy or 3 pounds of chocolate chip cookies. In an eight-hour day, Ramona can produce 6 pounds of taffy or 6 pounds of chocolate chip cookies. The opportunity cost of producing 1 pound of chocolate chip cookies is:

Answer 1

5 pounds of taffy for Isabel and 1 pound of taffy for Ramona.

Explanation:

In an eight-hour day, Isabel can produce 15 pounds of taffy or 3 pounds of chocolate chip cookies.

`(15)/(3) =(x)/(1)`

`=>3x=15`

x = 5

In an eight-hour day, Ramona can produce 6 pounds of taffy or 6 pounds of chocolate chip cookies.

`(6)/(6) =(x)/(1)`

`=>6x=6`

x = 1

Hence, the opportunity cost of producing 1 pound of chocolate chip cookies is: 5 pounds of taffy for Isabel and 1 pound of taffy for Ramona.

Answer 2

For Isabel:
15:3=x:1⇒3x=15⇒x=5

For Ramona:
6:6=x:1⇒x=1

The opportunity cost of producing 1 pound of chocolate chip cookies is 5 pounds of taffy for Isabel and 1 pound of taffy for Ramona.