Use the Information Below to Answer the Following Questions

question 3

Multiple Choice

Use the information below to answer the following questions.
Fact 2.4.1
In an eight-hour day, Andy can produce either 24 loaves of bread or 8 kilograms of butter. In an eight-hour day, Rolfe can produce either 8 loaves of bread or 8 kilograms of butter.
-Given Fact 2.4.1, the opportunity cost of producing 1 loaf of bread is

• A)20 minutes (1/3 hour)for Andy and 1 hour for Rolfe.
• B)1/3 kilogram of butter for Andy and 1 kilogram of butter for Rolfe.
• C)3 kilograms of butter for Andy and 1 kilogram of butter for Rolfe.
• D)8 kilograms of butter for both Andy and Rolfe.
• E)not calculable from the given information.

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Definitions:

Contingency Approach

A management theory that suggests the most appropriate organizational structure or management style is contingent upon the internal and external situation.

Evolution of Management

Refers to the historical development and transformation of management theories and practices over time.

Open System Analysis

An approach to analyze organizations by considering the continuous interaction with their environment, enabling adaptation and sustainability.