Consider the Following Scenario to Answer the Questions That Follow

question 63

Multiple Choice

Consider the following scenario to answer the questions that follow.
Two friends, Rachel and Joey, enjoy baking bread and making apple pies. Rachel takes two hours to bake one loaf of bread and one hour to make one pie. Joey takes four hours to bake one loaf of bread and four hours to make one pie.
-What is Joey's opportunity cost of baking a pie?

• A) 4 pies
• B) 2 pies
• C) 1 pie
• D) 1 loaf of bread
• E) 1/2 loaf of bread

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Employment sector characterized by low wages, job insecurity, and poor working conditions, often involving temporary or part-time jobs.