. Refer to Figure 3-3. Tanek’s opportunity cost of one burrito is a. 3/4 taco and Barb’s opportunity cost of one burrito is 1/2 taco. b. 3/4 taco and Barb’s opportunity cost of one burrito is 2 tacos. c. 4/3 tacos and Barb’s opportunity cost of one burrito is 1/2 taco. d. 4/3 tacos and Barb’s opportunity cost of one burrito is 2 tacos. 500450400350300Tanek's PPF2502001501005050 100 150 200 250 300 350 400 450 500TACOSBURRITOS 500450400350300250200Barb's PPF1501005050 100 150 200 250 300 350 400 450 500TACOSBURRITOS

Answered: Refer to Figure 3-3. Tanek’s…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

. Refer to Figure 3-3. Tanek’s opportunity cost of one burrito is

	a.	3/4 taco and Barb’s opportunity cost of one burrito is 1/2 taco.
	b.	3/4 taco and Barb’s opportunity cost of one burrito is 2 tacos.
	c.	4/3 tacos and Barb’s opportunity cost of one burrito is 1/2 taco.
	d.	4/3 tacos and Barb’s opportunity cost of one burrito is 2 tacos.

500
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Tanek's PPF
250
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150
100
50
50 100 150 200 250 300 350 400 450 500
TACOS
BURRITOS

500
450
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200
Barb's PPF
150
100
50
50 100 150 200 250 300 350 400 450 500
TACOS
BURRITOS

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Opportunity cost indicates the forgone benefits from the next best alternative.

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