1) Millie's textile shop can make a hat in 33 minutes and can make a shirt in 18 minutes, the opportunity of making a hat is ___ shirts. (Round to two decimal places) 2)

Fred teaches Finance at PSU, and gets a salary of $125,000 yearly. Ernie teaches English at PSU, and gets a salary of of $66,000. What is the most likely explanation for this huge pay difference? O Fred must be a Relative or friend of somebody in upper administration at the University. O When it comes to salary, Fred has a higher opportunity cost than Ernie of working at the University compared to a private sector job. Thus, the University must pay Fred more to keep him as an employee. O Fred most likely teaches more courses, or teaches over the summer, while Ernie just teachers in Fall and Spring. O Ernie is in his first year as a faculty member, while Fred has been here for 25 years