Using All Available Resources, If a Farmer Can Produce Either

question 154

Multiple Choice

Using all available resources, if a farmer can produce either 65 cantaloupes or 70 watermelons, what is the opportunity cost of 1 cantaloupe to the farmer?

• A) 0.82 watermelons
• B) 1.08 watermelons
• C) 1.50 watermelons
• D) 2.00 watermelons

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Definitions:

Design Defects

Flaws in the planning or design of a product that result in it being unsafe or failing to perform as intended.

Product Liability

The legal responsibility of manufacturers and sellers for defects or hazards in products that cause harm.

Restatement (Third)

A reference to the third series of restatements of American law, which are compilations summarizing the court rulings on various legal subjects.

Product Defects

Flaws or errors in a product that make it unsafe or unfit for its intended use, possibly leading to recalls or liability issues for the manufacturer.