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In an Eight-Hour Day, Andy Can Produce Either 24 Loaves

Question 55

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.

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