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:

Action Items

Specific tasks or steps to be taken in order to achieve a goal or complete a plan.

Conflicts of Interest

Situations where an individual’s personal interests could potentially interfere with their professional duties or responsibilities.

Clarify Goals

The process of making objectives clear, specific, and understandable, ensuring everyone involved has a shared understanding of what is to be achieved.

Agenda Items

The individual topics or issues to be discussed or decided upon during a meeting, listed as part of an agenda.