Question #124377
Amy and Bill are fixing up their house by painting walls and installing electrical outlets.
In one hour, Amy can paint 8 walls, or install 6 outlets.
In one hour, Bill can paint 5 walls, or install 5 outlets
If Bill painted 5 walls in the first hour of work, and then switched to doing 5 outlets in the second hour of work, what was the opportunity cost of each of those outlets?
Instructions: Answer in whole numbers.
For the third hour, if he switches back to painting 5 walls, what was the opportunity cost of each of those walls?
In one hour, Amy can paint 8 walls, or install 6 outlets.
In one hour, Bill can paint 5 walls, or install 5 outlets
If Bill painted 5 walls in the first hour of work, and then switched to doing 5 outlets in the second hour of work, what was the opportunity cost of each of those outlets?
Instructions: Answer in whole numbers.
For the third hour, if he switches back to painting 5 walls, what was the opportunity cost of each of those walls?
Expert's answer
Opportunity cost is the value of something that is given up to get something else that is wanted.
Given that Bill can paint 5 walls, or install 5 outlets.
Let number of outlets per hour by Bill, number of walls per hour by Bill.
For each outlet 1 wall are not done.
For each wall 1 outlet are not done.
