Table 2-7

Minnie Mickey

Hats 40 50

Umbrellas 10 5

Table 2-7 shows the output per week of two people, Minnie and Mickey. They can either devote their time to making hats or making umbrellas.

What is Mickey's opportunity cost of making an umbrella?

1/5 of a hat

5 hats

10 hats

50 hats

From my understanding the opportunity cost of making an umbrella would be 10 hats as the trade off for making one umbrella is 10 hats. Thanks for your help.