Ramon and Sammy are working on a group homework assignment. The homework consists of a set of essay questions and a set of questions on graphing models. Ramon can finish an essay question in about 15 minutes and a graphing question in about 30 minutes. Sammy can finish an essay question in about 20 minutes and a graphing question in about 35 minutes. Assume that Ramon and Sammy produce the same quality answers.
Calculate Ramon and Sammy's
Ramon can finish an essay question in about 15 minutes and graphing question in about 30 minutes
Sammy can finish an essay question in about 20 minutes and graphing question in about 35 minutes
a) Ramon's opportunity cost of completing an essay question is 0.5 graphing question
b) Ramon's opportunity cost of completing an grpahing question is 2 essay question
c) Sammy's opportunity cost of completing an essay question is 0.57 graphing question
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