Opportunity Cost

Suppose that in 8 hours at work Elias can spend all of his time making hemp necklaces or leather wristbands. If he makes necklaces, he can make 10. If he makes wristbands, he can make 14.

75is how many ______ must be forgone to produce 1 _____.

How is the 75obtained from the fill-in-the-blank statement above? Show your work/explain please.

What is the opportunity cost of producing 1 necklace? Show your work/explain please.