Opportunity cost (micro) practice problems

Microeconomics Unit 1. Try each one, then open the worked solution. The Credit Sprint app generates unlimited new versions with fresh numbers.

Problem 1.

In one day, a worker can make either 50 shirts or 25 hats. What is the opportunity cost of one shirt, in hats?

Show solution

Giving up 25 hats for 50 shirts: 25 ÷ 50 = 0.5 hats per shirt.

Problem 2.

In one day, a worker can make either 10 shirts or 30 hats. What is the opportunity cost of one shirt, in hats?

Show solution

Giving up 30 hats for 10 shirts: 30 ÷ 10 = 3 hats per shirt.

Problem 3.

In one day, a worker can make either 50 shirts or 75 hats. What is the opportunity cost of one shirt, in hats?

Show solution

Giving up 75 hats for 50 shirts: 75 ÷ 50 = 1.5 hats per shirt.

Problem 4.

In one day, a worker can make either 10 shirts or 40 hats. What is the opportunity cost of one shirt, in hats?

Show solution

Giving up 40 hats for 10 shirts: 40 ÷ 10 = 4 hats per shirt.

Problem 5.

In one day, a worker can make either 25 shirts or 37.5 hats. What is the opportunity cost of one shirt, in hats?

Show solution

Giving up 37.5 hats for 25 shirts: 37.5 ÷ 25 = 1.5 hats per shirt.

Problem 6.

In one day, a worker can make either 50 shirts or 200 hats. What is the opportunity cost of one shirt, in hats?

Show solution

Giving up 200 hats for 50 shirts: 200 ÷ 50 = 4 hats per shirt.