Question

Two friends, rachel and joey, enjoy baking bread and making apple pies. rachel takes two hours to bake 1 loaf of bread and one hour to make 1 pie. joey takes four hours to bake 1 loaf of bread and four hours to make 1 pie. what is rachel's opportunity cost of baking 1 loaf of bread?

a. 1 loaf of bread
b. 2 pies
c. 1/2 loaf of bread
d. 1 pie
e. 4 pies

Answer 1

E is the answer

Hope this helps

Answer 2

Answer: Option b

Explanation:

Rachel needs two hours for a loaf of bread and one hour for one pie.

Joey needs four hours for one loaf of bread and four hours to a pie.

We want to know the opportunity cost of Rachel to make one loaf of bread.

The opportunity cost is the relation between what she wins and what she could'be wined if she chose the other option.

We know that at the same time that she bakes 1 loaf of bread she could make 2 pies, so the opportunity cost of 1 loaf of bread is option b (what she could have wined if she chose to do the pies instead in that time).