Questions: Tyler and Emily are preparing for an MSU football tailgate. They have two tasks: grilling burgers and setting up chairs. Tyler can grill 10 burgers per hour or set up 10 chairs per hour. Emily can grill 15 burgers per hour or set up 5 chairs per hour. What is Emily's opportunity cost of grilling 1 burger?

The answer is the first one: setting up \( \frac{1}{3} \) of a chair.

Explanation:

Opportunity cost is what you give up to do something else. For Emily, the opportunity cost of grilling burgers is what she could have done instead, which is setting up chairs.

1. Emily's Rates:

   • Grilling: 15 burgers per hour
   • Setting up: 5 chairs per hour

2. Opportunity Cost Calculation:

   • If Emily grills 1 burger, she spends \( \frac{1}{15} \) of an hour.
   • In \( \frac{1}{15} \) of an hour, she could set up: \[ 5 \text{ chairs per hour} \times \frac{1}{15} \text{ hour} = \frac{5}{15} = \frac{1}{3} \text{ chair} \]

Option Explanations:

• Setting up \( \frac{1}{3} \) of a chair: Correct, as calculated above.
• Setting up 5 chairs: Incorrect, as this would be the opportunity cost for grilling 15 burgers.
• Setting up 45 chairs: Incorrect, as this is not related to the given rates.
• She has no opportunity cost: Incorrect, as opportunity cost is always present when choosing between tasks.

In summary, Emily's opportunity cost of grilling 1 burger is setting up \( \frac{1}{3} \) of a chair.