Multiple Choice
Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Fred's opportunity cost to produce one cake is
A) one-half pie.
B) two pies.
C) six pies.
D) four pies.
Correct Answer:
Verified
Correct Answer:
Verified
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