Irving has 10 hours available for knitting scarves and hats. It takes him 20 minutes to knit a scarf and 10 minutes to knit a hat. His current plan is to make 2 scarves and1 hat. What is his opportunity cost (in terms of hats) of knitting one more scarf than is in his plan? Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28. 2
Irving has 10 hours available for knitting scarves and hats. It takes him 20 minutes to knit a scarf and 10 minutes to knit a hat. His current plan is to make 2 scarves and1 hat. What is his opportunity cost (in terms of hats) of knitting one more scarf than is in his plan? Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28. 2
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Irving has 10 hours available for knitting scarves and hats. It takes him 20 minutes to knit a scarf and 10 minutes to knit a hat. His current plan is to make 2 scarves and 1 hat. What is his
opportunity cost (in terms of hats) of knitting one more scarf than is in his plan?
Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28.
2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fea8f7224-4c26-4f5e-8372-88310f71f7f9%2F28f75678-ed10-4035-bcf5-de67c0eda0ad%2Fq5d07dn_processed.png&w=3840&q=75)
Transcribed Image Text:Irving has 10 hours available for knitting scarves and hats. It takes him 20 minutes to knit a scarf and 10 minutes to knit a hat. His current plan is to make 2 scarves and 1 hat. What is his
opportunity cost (in terms of hats) of knitting one more scarf than is in his plan?
Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28.
2
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