Katie and Hugh Are Producing Pies and Jars of Pickles

question 63

Multiple Choice

Katie and Hugh are producing pies and jars of pickles. Katie can produce either 200 jars of pickles or 100 pies per month. Hugh can produce either 800 jars of pickles or 200 pies per month.

• A)Katie's opportunity cost of producing 1 jar of pickles is 1/2 of a pie.
• B)Hugh's and Katie's opportunity costs of producing are the same.
• C)Katie's opportunity cost of producing 1 jar of pickles is 2 pies.
• D)Hugh's opportunity cost of producing 1 pie is 1/4 jar of pickles.
• E)Hugh's opportunity cost of producing 1 jar of pickles is 4 pies.

Understand the concept of chemical equilibrium and the calculation of the equilibrium constant (K).

Calculate the concentrations of reactants and products in a chemical equilibrium.

Relate the pH of a solution to the concentrations of reactants and products in acid-base equilibria.

Understand the impact of reactant and product concentrations on the magnitude of the equilibrium constant.

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Definitions:

Salary Sacrificing

An arrangement where an employee agrees to receive less income in return for their employer providing benefits of a similar value.

Non-Cash Benefits

Compensation or perks given to employees that are not in the form of money, such as health insurance, company cars, or housing.

Performance Targets

Specific, quantifiable objectives set by a company or an individual to measure progress toward a desired goal or standard.

Leave Loading

An additional pay amount given to employees while they are on leave, typically calculated as a percentage of their usual wages, to compensate for not receiving certain types of earnings during their leave.