Table 2-9 Table 2-9 Shows the Output Per Week of Week

question 216

Multiple Choice

Table 2-9
Table 2-9 shows the output per week of two jewelers, Serena and Haley. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-9. What is Haley's opportunity cost of making a necklace?

• A) 3/4 of a bracelet
• B) 3 bracelets
• C) 1 1/3 necklaces
• D) 2 necklaces

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Definitions:

Partnership

A legally recognized arrangement in which two or more persons co-manage a business and distribute its profits among themselves.

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business.

Bankruptcy

A legal status of a person or entity that cannot repay debts to creditors and seeks relief through court proceedings.

Small Businesses

Enterprises characterized by smaller scale operations, fewer employees, and less revenue compared to larger corporations.