The Table Below Illustrates That,in One Day,Tristan Can Produce Either

question 3

Multiple Choice

The table below illustrates that,in one day,Tristan can produce either 12 fishing lures or mow 3 lawns,while Thomas can produce either 6 fishing lures or mow 6 lawns. TABLE 1-1 Refer to Table 1-1.Which of the following statements about Tristan's and Thomas's opportunity costs is correct?

• A)Tristan has a higher opportunity cost of producing mowed lawns.
• B)Thomas has a higher opportunity cost of producing mowed lawns.
• C)Tristan has a higher opportunity cost of producing fishing lures.
• D)Thomas has a higher opportunity cost of producing fishing lures.
• E)Both A and D are correct.

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Definitions:

Responsiveness Spectrum

A range indicating the degree to which a system or process can adjust quickly to changes or demand without compromising quality or performance.

Supply Chain Strategies

Comprehensive plans and approaches used by businesses to manage the flow of goods, information, and finances across the supply chain efficiently and effectively.

Mitigating Uncertainty

The strategies and actions taken to reduce the unknown factors or volatility in operations, supply chain, and market environments.

Excess Capacity

The condition in which a company can produce more goods than the market demands.