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.
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.