Don't use chat gpt These graphs illustrate the production possibilities available for dancing shoes to Fred and Ginger with 40 hoursof labour.BalletSlippers109876543210 1 2FredBalletSlippers109876543216 7 8 9 10 TapShoes0 123Select one:O a. 5/3 pairs of ballet slippersO b. 1/3 pair of ballet slippersc. 3/5 pair of ballet slippersO d. 1/5 pair of ballet slippersGinger6 7 8 9 10 TapShoesRefer to Figure 3-5. What is the opportunity cost of one pair of tap shoes for Fred?

Opportunity cost is defined as the cost of next best alternative foregone Now in this case the…

Refer to Figure 3-5. What is the opportunity cost of one pair of tap shoes for Fred? Select one: O a. 5/3 pairs of ballet slippers O b. 1/3 pair of ballet slippers O c. 3/5 pair of ballet slippers O d. 1/5 pair of ballet slippers

Refer to Figure 3-5. What is the opportunity cost of one pair of tap shoes for Fred? Select one: O a. 5/3 pairs of ballet slippers O b. 1/3 pair of ballet slippers O c. 3/5 pair of ballet slippers O d. 1/5 pair of ballet slippers

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 1SCQ: Suppose Alphonsos town raised the price of bus tickets to 1 per trip (while file price of burgers...

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Question

Don't use chat gpt

These graphs illustrate the production possibilities available for dancing shoes to Fred and Ginger with 40 hours
of labour.
Ballet
Slippers
10
9
8
7
6
5
4
3
2
1
0 1 2
Fred
Ballet
Slippers
10
9
8
7
6
5
4
3
2
1
6 7 8 9 10 Tap
Shoes
0 123
Select one:
O a. 5/3 pairs of ballet slippers
O b. 1/3 pair of ballet slippers
c. 3/5 pair of ballet slippers
O d. 1/5 pair of ballet slippers
Ginger
6 7 8 9 10 Tap
Shoes
Refer to Figure 3-5. What is the opportunity cost of one pair of tap shoes for Fred?

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