Table 3-22 Assume That Zimbabwe and Portugal Can Switch Between Producing Toothbrushes

question 286

Multiple Choice

Table 3-22
Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a constant rate.
-Refer to Table 3-22. Zimbabwe's opportunity cost of one hairbrush is

• A)3/10 toothbrush and Portugal's opportunity cost of one hairbrush is 5/6 toothbrush.
• B)3/10 toothbrush and Portugal's opportunity cost of one hairbrush is 6/5 toothbrushes.
• C)10/3 toothbrushes and Portugal's opportunity cost of one hairbrush is 5/6 toothbrush.
• D)10/3 toothbrushes and Portugal's opportunity cost of one hairbrush is 6/5 toothbrushes.

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Definitions:

Credit

Credit is a financial term describing the ability of a buyer to receive goods or services before payment, based on the trust that payment will be made in the future.

Collected

The process of receiving payment for goods or services provided, often referring to the actual receipt of cash.

Minimum Cash Balance

The lowest amount of cash a business determines it needs on hand to meet its operational requirements.

Preliminary Cash Balance

An initial estimate of a company's cash balance at the beginning of a financial period, before any adjustments are made.