The Following Table Shows Per-Day Production Data of Rice and T-Shirts

question 43

Multiple Choice

The following table shows per-day production data of rice and T-shirts for two countries, Cambria and Bodoni. Based on the table, it can be said that the opportunity cost of 1 T-shirt in Cambria is _____.

• A) 4 tons of rice
• B) 0.5 ton of rice
• C) 0.75 ton of rice
• D) 0.025 ton of rice
• E) 2 tons of rice

Understand the concept and examples of tacit knowledge.

Grasp Kohlberg’s stages of moral development and the factors influencing moral reasoning.

Recognize the critiques and contributions of Carol Gilligan to moral development theories.

Understand the influence of cognitive and experiential factors on emotional and moral decision-making.

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Definitions:

Output

The total amount of goods or services produced by a business, industry, or economy.

Marginal Revenue

Additional earnings received from the sale of one more unit of a product or service.

Marginal Cost

The financial commitment for manufacturing an additional unit of a product or service.

Profits

The financial gain obtained when the revenues earned from business activities exceed the expenses, costs, and taxes needed to sustain those activities.