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March 29, 2017

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There are two types of people. Red's and Blue's. In a given week, Red's can make 5 pieces of clothing or kill 10 buffalo (and all linear combo in between) In a given week, Blue's can make 12 pieces of clothing or kill 4 buffalo (and all linear combo's in between)


a. What is the opportunity cost of a Red person making a piece of clothing? One unit of clothing cost _____ deer.

b. What is the opportunity cost of a Blue person making a piece of clothing? One unit of clothing cost _____ deer.

  • College Econ - ,

    Is it clothing and deer or clothing and buffalo? Doesnt matter, i'll use deer.

    To get 1 piece of clothing:
    Red must give up 2 deer.
    Blue must give up 1/3 deer.

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