Question

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?

Answer 1

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 $o=$number of outlets per hour by Bill, $w=$ number of walls per hour by Bill.  

$$5o=5w$$ $$o=w$$

For each outlet 1 wall are not done.

For each wall 1 outlet are not done.