Scott and Cindy Both Produce Only Pizza and Tacos

question 201

Multiple Choice

Scott and Cindy both produce only pizza and tacos.In one hour,Scott can produce 20 pizzas or 40 tacos.In one hour,Cindy can produce 30 pizzas or 40 tacos.Cindy's opportunity cost of producing 1 taco is

• A) 3/4 of a pizza.
• B) 1 pizza.
• C) 30 pizzas.
• D) 40 pizzas.
• E) 1 1/3 tacos.

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Definitions:

Intermediate Goods

Products that are used as inputs in the production of other goods or services rather than being bought by consumers.

Final Output

The total value of all goods and services produced and sold for final use in the economy, avoiding duplication by excluding intermediate goods.

Durable Goods

Items with a long life span, such as appliances and automobiles, that are used over time rather than consumed quickly.

Intermediate Good

A product utilized in the manufacture of a final good or finished product, not sold directly to end consumers.