Assume that quantities do not need to be integers. That is, it is feasible for Andreas to knit 37.5 mittens. You have two employees, Meb and Des, each of whom works for 10 hours a day. Meb can knit 5.2 mittens in an hour. Meb can knit 2 scarves in an hour. Des can knit 1.2 mittens in an hour. Des can knit 1 scarf in an hour. If they are efficiently knitting 18 scarves a day, what is the opportunity cost, in terms of mittens per day, of producing an extra scarf each day. Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28.

Assume that quantities do not need to be integers. That is, it is feasible for Andreas to knit 37.5 mittens. You have two employees, Meb and Des, each of whom works for 10 hours a day. Meb can knit 5.2 mittens in an hour. Meb can knit 2 scarves in an hour. Des can knit 1.2 mittens in an hour. Des can knit 1 scarf in an hour. If they are efficiently knitting 18 scarves a day, what is the opportunity cost, in terms of mittens per day, of producing an extra scarf each day. Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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