Use the Following Scenario to Answer the Next Questions

question 147

Multiple Choice

Use the following scenario to answer the next questions:
Natasha can produce either 5,000 pounds of cheese or 20 houses per year. Jameson can produce either 5,000 pounds of cheese or 10 houses per year.
-Jameson's opportunity cost of producing one pound of cheese is ________ house(s) .

• A) 1/500 of a
• B) 1/250 of a
• C) 1/10 of a
• D) 250
• E) 500

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Definitions:

Generated

Created or produced, often referring to data, reports, or energy.

Tagging

The action of labeling or identifying digital content with specific keywords for the purposes of categorization or social sharing.

Advantage

A condition or circumstance that puts one in a favorable or superior position compared to others.

One Way Communication

A form of communication where information flows in only one direction, from the sender to the receiver, without feedback.