The Opportunity Cost of Making a Component Part in a Factory

question 83

Multiple Choice

The opportunity cost of making a component part in a factory with no excess capacity is the:

• A)net benefit foregone from the best alternative use of the capacity required.
• B)fixed manufacturing cost of the component.
• C)variable manufacturing cost of the component.
• D)cost of the production given up in order to manufacture the component.

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Definitions:

Depth Perception

The ability to perceive the world in three dimensions.

Visual Acuity

The sharpness or clarity of vision, which is typically measured by the ability to discern letters or numbers at a standardized distance.

Uterine

Pertaining to the uterus, the organ in female mammals where offspring are conceived and in which they gestate before birth.

Development

The process of change and growth through which an organism goes through in its life, encompassing physical, cognitive, and social stages.