Table 18.1 -Consider Two Individuals, Jesse and April, Who Hand Paint Kites

question 136

Multiple Choice

Table 18.1
-Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one kite is painting

• A) 1/12 of a snowboard.
• B) 1/8 of a snowboard.
• C) 1/3 of a snowboard.
• D) 3 snowboards.

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Definitions:

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, not always leading to the most accurate conclusions.

Shortcut Strategies

Methods or techniques used to solve problems or make decisions more efficiently by reducing the cognitive load.

Inductive Reasoning

A method of reasoning in which conclusions are drawn from specific examples or evidence, moving from the particular to the general.

General Principle

A fundamental truth, law, or concept that serves as the foundation for a system of belief or behavior or for a chain of reasoning.