Multiple Choice
In an eight-hour day, Andy can produce either 24 loaves of bread or 8 pounds of butter. In an eight-hour day, John can produce either 8 loaves of bread or 8 pounds of butter. The opportunity cost of producing 1 pound of butter is
A) 1\3 hour for Andy and 1 hour for John.
B) 1 hour for Andy and 1 hour for John.
C) 3 loaves of bread for Andy and 1 loaf of bread for John.
D) 1\3 loaves of bread for Andy and 1 loaf of bread for John.
Correct Answer:

Verified
Correct Answer:
Verified
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