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

question 2

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. $$\begin{array} { | l | c | c | } \hline & \text { Fishing Lures } & \text { Mowed Lawns } \\\hline \text { Tristan } & 12 & 3 \\\hline \text { Thomas } & 6 & 6 \\\hline\end{array}$$ TABLE 1- 1
-Refer to Table 1- 1.What is Thomas's opportunity cost of producing one fishing lure?

• A)1/6 of a lure
• B)1 mowed lawn
• C)there is no opportunity cost
• D)5 lures
• E)1/6 of a mowed lawn

---

Definitions:

Quarterly

occurring every three months or four times a year, often used to describe the periodic reporting schedule of businesses and investments.

Cost of Goods Sold

The expenditure directly associated with producing a company's sold goods, covering materials and labor involved.

Beginning Inventory

The value of an entity’s inventory at the start of an accounting period.

Net Sales

Net Sales is the total revenue from sales of goods or services, after deducting returns, allowances for damaged or missing goods, and discounts.