Tom and Jerry Have One Day to Work, but Two

question 135

Multiple Choice

Tom and Jerry have one day to work, but two tasks to focus on: building chairs and tables. If Tom spends all day building chairs, he will make 16 chairs. If he instead devotes his day to building tables, Tom will make 4 tables. If Jerry spends his day building chairs, he will make 14 chairs; if he spends the day building tables, he will make 7 tables. For Jerry, the opportunity cost of building a table is _____ chairs made.

• A) 14
• B) 7
• C) 4
• D) 2

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Definitions:

Postpone Purchases

The act of delaying buying goods or services until a later date, often due to financial considerations, changing needs, or waiting for price reductions.