Given the Information in the Table Above, Foreign's Opportunity Cost

question 38

Multiple Choice

Given the information in the table above, Foreign's opportunity cost of cloth is

• A) 0.5.
• B) 2.0.
• C) 6.0.
• D) 1.5.
• E) 3.0.

---

Definitions:

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Purchase Price

The amount of money paid or agreed to be paid by the purchaser to the seller for acquiring goods, assets, or services.

Collateral

Property or assets that a borrower offers to a lender to secure a loan.

Guarantor

is an individual or entity that agrees to be responsible for another's debt or performance under a contract, if the original party fails to meet their obligations.