Question

Amy and Bill are fixing up their house by painting walls and installing electrical outlets.

In one hour, Amy can paint 8 walls, or install 6 outlets.
In one hour, Bill can paint 5 walls, or install 5 outlets
a. If Amy painted 8 walls in the first hour of work, and then switched to doing 6 outlets in the second hour of work, what was the opportunity cost of each of those outlets?
Instructions: Round your answers to two decimal places.
For the third hour, if she switches back to painting 8 walls, what was the opportunity cost of each of those walls?
b. If Bill painted 5 walls in the first hour of work, and then switched to doing 5 outlets in the second hour of work, what was the opportunity cost of each of those outlets?
Instructions: Answer in whole numbers.
For the third hour, if he switches back to painting 5 walls, what was the opportunity cost of each of those walls?

Answer 1

See Explanation

Step-by-step explanation:

Given

In 1 hour:

Amy: 8 walls or 6 outlets

Bill: 5 walls or 5 outlets

Solving (a): Amy

(i) Opportunity cost of the outlets

This can be represented as:

`8\ walls = 6\ outlets`

Divide both sides by 2

`4\ walls= 3\ outlets`

This means that: for 3 outlets done, 4 walls are not done.

(i) Opportunity cost of the walls

This can be represented as:

`6\ outlets = 8\ walls`

Divide both sides by 2

`3\ outlets = 4\ walls`

This means that: for 4 walls done, 3 outlets are not done.

Solving (b): Bills

(i) Opportunity cost of the outlets

This can be represented as:

`5\ walls = 5\ outlets`

Divide both sides by 5

`1\ wall = 1\ outlet`

This means that: for 1 outlet done, 1 wall is not done.

(i) Opportunity cost of the walls

This can be represented as:

`5\ outlets = 5\ walls`

Divide both sides by 5

`1\ outlet = 1\ wall`

This means that: for 1 wall done, 1 outlet is not done.