Table 2-10 Table 2-10 Shows the Output Per Month of Month

question 54

Multiple Choice

Table 2-10
Table 2-10 shows the output per month of two people, Fred and Barney. They can either devote their time to making pogo sticks or making unicycles.
-Refer to Table 2-10. What is Barney's opportunity cost of making a unicycle?

• A) 1/2 of a pogo stick
• B) 2 pogo sticks
• C) 1.75 unicycles
• D) 2.8 pogo sticks

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Definitions:

Flowchart

A graphical representation of a process or system, showing the steps as boxes of various kinds, and their order by connecting them with arrows.

Standard Symbols

Predefined symbols that are universally recognized and used to convey specific information clearly and concisely.

Diagram

A visual representation of information, showing how different parts of a system, process, or concept are related or organized.

Bivariate Joint Frequency Distributions

A statistical analysis method that examines the relationship between two variables by counting the frequency of their joint occurrences.