Answer: The opportunity cost ratio for Jedidiah Schlepp per week is 1.2 gizmos per unit of whatsit or 1.2:1.
Jedidiah Schlepp can produce a maximum of either 24 gizmos or 20 whatsits in a week.
So,
24 gizmos = 20 whatsits
Since we need to express the opportunity cost ratio as number of gizmos to one unit of whatsit, we divide both sides of the equation by 20.
We get,
[tex] \frac{24}{20} gizmos =\frac{20}{20} whatsits [/tex]
[tex] 1.2 gizmos = 1 whatsit [/tex]
