Table 3-6 Assume That Maya and Miguel Can Switch Between Producing Mixers

question 232

Multiple Choice

Table 3-6
Assume that Maya and Miguel can switch between producing mixers and producing toasters at a constant rate.

-Refer to Table 3-6.Assume that Maya and Miguel each has 40 hours available.If each person divides his/her time equally between the production of mixers and toasters,then total production is

• A) 2 mixer and 8 toasters.
• B) 3.5 mixers and 6 toasters.
• C) 5 mixers and 4 toasters.
• D) 7 mixers and 12 toasters.

---

Definitions:

Wage Rate

The amount of money paid to a worker per unit of time, serving as compensation for labor services.

Capital Stock

The total amount of physical and financial assets owned by a business or economy, crucial for production capacity.

Business Income

Revenue derived from the operations of a business, typically consisting of the gross receipts or sales minus the cost of goods sold and other deductions.