Question

The opportunity cost of catching a pound of pickerel is for Simon than for John, and the opportunity cost of picking a pound of cherries is for Simon than for John. A. higher, higher B. lower, higher C. lower, lower D. higher, lower In an hour, Simon can catch 4 pounds of pickerel or pick 8 pounds of cherries. In an hour, John can catch 4 pounds of pickerel or pick 20 pounds of cherries.

          The opportunity cost of catching a pound of pickerel is ____ for Simon than for John, and the opportunity cost of picking a pound of cherries is ____ for Simon than for John.
A. higher, higher
B. lower, higher
C. lower, lower
D. higher, lower
In an hour, Simon can catch 4 pounds of pickerel or pick 8 pounds of cherries.
In an hour, John can catch 4 pounds of pickerel or pick 20 pounds of cherries.

The opportunity cost of catching a pound of pickerel is for Simon than for John, and the opportunity cost of picking a pound of cherries is for Simon than for John.
A. higher, higher
B. lower, higher
C. lower, lower
D. higher, lower
In an hour, Simon can catch 4 pounds of pickerel or pick 8 pounds of cherries.
In an hour, John can catch 4 pounds of pickerel or pick 20 pounds of cherries.

Added by Jennifer D.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Crystal Wang

09/07/2022

Step 1

Step 1: The opportunity cost of catching a pound of pickerel is the number of pounds of cherries that Simon could have picked instead. Show more…

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The opportunity cost of catching a pound of pickerel is __ for Simon than for John, and the opportunity cost of picking a pound of cherries is __ for Simon than for John. In an hour, Simon can catch 4 pounds of pickerel or pick 8 pounds of cherries. In an hour, John can catch 4 pounds of pickerel or pick 20 pounds of cherries. A. higher, higher B. lower, higher C. lower, lower D. higher, lower