O-LevelEconomicsThe basic economic problem2281/12 · Oct/Nov 2015 · Q41 Mark
A person works at home making table cloths. He works for 6 hours each day and makes 15 table cloths an hour. He sells them for $10 each. He then decides to work for only 4 hours each day. What can be concluded from the above information?
AThe lost profit would be $300.
BThe lost revenue would be $60.
CThe daily opportunity cost would be 30 table cloths.
DThe daily opportunity cost would be $50.
✓ Correct answer
C: The daily opportunity cost would be 30 table cloths.
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