Aly is willing to forgo 3 units of oranges for 7 units of apples. Aly has L = 35 labor hours available. What is the opportunity cost of 1 apple in units of oranges for Aly? A. 700 B. 2.33 C. 3/7 D. Not enough information to answer this question.

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
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1.  Aly is willing to forgo 3 units of oranges for 7 units of apples. Aly has L = 35 labor hours
available. What is the opportunity cost of 1 apple in units of oranges for Aly?
A. 700
B. 2.33
C. 3/7
D. Not enough information to answer this question.

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