A company consists of two people-Freya and Ingrid. Each has 15 hours to allocate between building fences or decks. The number of each they can build in one hour are given in the table below. Suppose they produce jointly and assume efficient production. If the company produces 1 fence, what is the company's Opportunity Cost of an extra fence in terms of decks? Enter a number only.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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A company consists of two people-Freya and Ingrid. Each has 15
hours to allocate between building fences or decks. The number of
each they can build in one hour are given in the table below.
Suppose they produce jointly and assume efficient production. If
the company produces 1 fence, what is the company's Opportunity
Cost of an extra fence in terms of decks? Enter a number only.
12 decks in an hour
Freya
Ingrid
5 fences in an hour
20 decks in an hour
7 fences in an hour
Transcribed Image Text:A company consists of two people-Freya and Ingrid. Each has 15 hours to allocate between building fences or decks. The number of each they can build in one hour are given in the table below. Suppose they produce jointly and assume efficient production. If the company produces 1 fence, what is the company's Opportunity Cost of an extra fence in terms of decks? Enter a number only. 12 decks in an hour Freya Ingrid 5 fences in an hour 20 decks in an hour 7 fences in an hour
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