Use the Following to Answer Question

question 213

Multiple Choice

Use the following to answer question:

-(Figure: Comparative Advantage) Use Figure: Comparative Advantage.The opportunity cost of producing 1 box of oranges for Westland is _____ box(es) of peaches.

• A)1
• B)0.25
• C)4
• D)10

---

Definitions:

Total Profit

The total amount of money gained from a business activity after all expenses and costs have been subtracted from total revenue.

Margin

The difference between the selling price of a product and the cost of producing it, often expressed as a percentage of the selling price.

Optimal Quantity

The quantity of a good or service that maximizes efficiency or utility, often where marginal cost meets marginal benefit.

Sweatshirt Production

The process of creating sweatshirts, involving the selection of materials, design, and manufacturing.