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.
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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F73eb03ee-c2d8-4367-aecf-4fb7d7917b9d%2F8e946ae2-a62d-43ca-9acc-5ca48695106e%2Fpbk5zpm_processed.jpeg&w=3840&q=75)
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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