Use the Information Below to Answer the Following Questions

question 94

Multiple Choice

Use the information below to answer the following questions.
Fact 2.4.1
In an eight-hour day, Andy can produce either 24 loaves of bread or 8 kilograms of butter. In an eight-hour day, Rolfe can produce either 8 loaves of bread or 8 kilograms of butter.
-Refer to Fact 2.4.1. The opportunity cost of producing 1 kilogram of butter is

• A)20 minutes (1/3 hour)for Andy and 1 hour for Rolfe.
• B)1 hour for Andy and 1 hour for Rolfe.
• C)3 loaves of bread for Andy and 1/3 loaf of bread for Rolfe.
• D)3 loaves of bread for Andy and 1 loaf of bread for Rolfe.
• E)8 loaves of bread for Rolfe and 24 loaves of bread for Andy.

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