Alice and Bob each produce haircuts and landscaping services.  Alice can provide 4 haircuts in one hour.  Bob can provide 2 haircuts in one hour.  It takes Alice 2 hours to landscape an acre of property.  It takes Bob 1 hour to landscape an acre of property.  Assume Alice and Bob both work a standard 8 hour day.  Which of the following must be true? check all that apply Landscaping an extra acre of property costs Alice 8 haircuts. Landscaping an extra acre of property costs Bob only 25% of the number of haircuts it would cost Alice to landscape the same acre. A haircut costs Bob 1/2 an acre of landscaped property. A haircut costs Alice 1/4 of an acre of landscaped property

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Alice and Bob each produce haircuts and landscaping services.  Alice can provide 4 haircuts in one hour.  Bob can provide 2 haircuts in one hour.  It takes Alice 2 hours to landscape an acre of property.  It takes Bob 1 hour to landscape an acre of property.  Assume Alice and Bob both work a standard 8 hour day.  Which of the following must be true? check all that apply

Landscaping an extra acre of property costs Alice 8 haircuts.
Landscaping an extra acre of property costs Bob only 25% of the number of haircuts it would cost Alice to landscape the same acre.
A haircut costs Bob 1/2 an acre of landscaped property.
A haircut costs Alice 1/4 of an acre of landscaped property
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