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

question 76

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. $$\begin{array}{l}\begin{array} { | l | l | l | } \hline & \text { Fishing lures } & \text { Mowed lawns } \\\hline \text { Tristan } & 12 & 3 \\\hline \text { Thomas } & 6 & 6 \\\hline\end{array}\\\text { TABLE 1- } 1\end{array}$$
-Refer to Table 1- 1. If Tristan and Thomas want to maximize their joint output from one day of work, how should they specialize their production?

• A) Tristan produces 3 mowed lawns; Thomas produces 6 mowed lawns
• B) Tristan produces 6 lures and 3 mowed lawns
• C) Tristan produces 6 lures; Thomas produces 6 lures
• D) Tristan produces 12 lures; Thomas produces 6 mowed lawns
• E) Tristan produces nothing, Thomas produces 6 lures and 6 mowed lawns

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Definitions:

Losses

Financial conditions reflecting that expenses have exceeded revenues, resulting in a negative net income.

Annual Salary

The total amount of money an employee is paid over the course of a year for their work, typically expressed as a yearly sum rather than hourly wages.

Partnership

A partnership is a legal form of business operation between two or more individuals who share management and profits.

Income Taxes

Taxes imposed by the government on the income generated by individuals or entities within its jurisdiction.