Question: QUESTION 7 Bob and Wendy operate a construction business. They are deciding who should pour cement for the foundations and who shcwld tile the


QUESTION 7 Bob and Wendy operate a construction business. They are deciding who should pour cement for the foundations and who shcwld tile the battucx)rns.'kitchens to minimise opportunlty cost. Cement Poured (meters squaredt--,r) Wendy Space Tiled (meters squared.'hr) Which of the folkymng statements are true: For Wendy, the opportunity cost of I metre squared of ti"ng is 2 meters squared of poured cement, O Bob has an absolute advan* in both activities. C) Wendy should specialise in tiling. O For gob. the opportunity cost of I metre squared o' tiling is 0.67 meters squared (to 2 decimal places) of poured cement.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
