Bill and Jen Are the Only Two People in an Economy.Each

question 5

Multiple Choice

Bill and Jen are the only two people in an economy.Each has 10 hours in which they can make either croissants, juice or some combination of both products.In takes Bill one hour to make one croissant and one hour to make a litre of juice.It takes Jen 20 minutes to make a croissant and 40 minutes to make a litre of juice.If the parties trade, which statement is true?

• A)Bill will specialize in juice production and Jen will specialize in juice; the price of a croissant will be between 1 and 2 litres of juice.
• B)Bill will specialize in croissant production and Jen will specialize in making juice; the price of a croissant will be between ½ and 1 litre of juice.
• C)Bill will specialize in juice production and Jen will specialize making croissants; the price of a croissant will be between ½ and 1 litre of juice.
• D)Bill will specialize in juice production and Jen will specialize in juice; the price of a croissant will be 1 litre of juice.
• E)None of the above.

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Definitions:

Positive Emotional

This refers to emotions or feelings that are uplifting and beneficial to one's psychological health and well-being, such as joy, gratitude, and satisfaction.

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Loud, sharp, high-pitched sounds made by someone or something, often as a reaction to fear, pain, or excitement.

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The level of contentment employees feel about their work, including aspects like nature of work, pay, and working conditions.

Job Performance

The effectiveness with which an individual executes the tasks and duties associated with their role within an organization.