-In the Production Possibilities Frontier Depicted in the Figure Above

question 22

Multiple Choice

-In the production possibilities frontier depicted in the figure above, what is the opportunity cost of increasing the production of bananas from two million pounds to three million pounds?

• A) 1/2 hat per pound of bananas
• B) 1 hat per pound of bananas
• C) 2 hats per pound of bananas
• D) 3 hats per pound of bananas

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Definitions:

Virtual Office

A facility offering companies an official address and office-centric services without requiring them to maintain a fixed physical location.

Sales Training

The process of equipping sales personnel with the necessary skills, information, and behaviors to effectively sell a product or service.

Net Profit

The amount of money left from all revenues after deducting all expenses, taxes, and costs, indicating the actual profit of a business.

Operating Business

The day-to-day activities involved in running a business, including management, production, and the provision of services.