Question

Amy and Bill are fixing up their house by painting walls and installing electrical outlets. In one hour, Amy can paint 8 walls, or install 6 outlets. In one hour, Bill can paint 5 walls, or install 5 outlets a. If Amy painted 8 walls in the first hour of work, and then switched to doing 6 outlets in the second hour of work, what was the opportunity cost of each of those outlets?

Answer 1

Answer:

1.33 walls

Explanation:

The opportunity cost of Amy is what she is expecting to give up in order to get something else.  In this scenario Amy either paints 8 walls per hour or do 6 outlets per hour.

So we can write that,

o=number of outlets per hour by Amy

w=number of walls per hour by Amy

$6o=8w\\\\o=\frac{8w}{6}\\ \\o=1.33w$

For each outlet, 1.33 wallets are not done.