-Agnes Can Produce Either 1 Unit of X or 1

question 26

Multiple Choice

$$\begin{array} { | l | c | c | } \hline & \begin{array} { c } \text { U.S. production } \\\text { possibilities }\end{array} & \begin{array} { l } \text { France's production } \\\text { possibilities }\end{array} \\\hline \text { Steel } & 100 & 25 \\\hline \text { Concrete } & 200 & 100 \\\hline\end{array}$$
-Agnes can produce either 1 unit of X or 1 unit of Y in an hour, while Brenda can produce either 2 units of X or 4 units of Y in an hour. The opportunity cost of producing a unit of Y is

• A) 1 unit of X per unit of Y for Agnes and 1/2 unit of X per unit of Y for Brenda.
• B) 1 unit of X per unit of Y for Agnes and 2 units of X per unit of Y for Brenda.
• C) 1 hour for Agnes and 1/2 hour for Brenda.
• D) 1 hour for Agnes and 2 hours for Brenda.

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Definitions:

Restrictive Endorsement

A limitation placed on a check specifying the conditions under which it can be endorsed.

Special Endorsement

A banking term referring to a notation on a check or other negotiable instrument that specifies the conditions under which it can be redeemed or transferred.

Qualified Endorsement

A legal notation on a negotiable instrument, such as a check, restricting the conditions under which it can be further negotiated.

Statement of Income and Expense

is a financial report that summarizes the revenue, costs, and expenses incurred during a specific period.