Tom and Jerry Have One Day to Work, but Two

question 52

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 Tom, the opportunity cost of building a table is _______ chairs made.

• A) 16
• B) 12
• C) 8
• D) 4

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Definitions:

Opportunity

A set of circumstances that makes it possible to do something or that creates a chance for progress or advancement.

Maslow

A renowned American psychologist who developed the concept of Maslow's hierarchy of needs, which suggests that psychological well-being is based on meeting certain fundamental human needs.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Hierarchy Of Needs

A framework proposed by Abraham Maslow that outlines a series of human needs ranging from the most basic physiological needs to higher-order needs of self-actualization.