Scenario: There Are Two Workers in a Factory That Produces

question 170

Multiple Choice

Scenario: There are two workers in a factory that produces two goods, Good X and Good Y. Worker 1 adds a value of $200 per hour in the production of Good X and a value of $100 per hour in the production of Good Y. Worker 2 adds a value of $125 per hour in the production of Good X and a value of $87.50 per hour in the production of Good Y.
-Refer to the scenario above.The opportunity cost per dollar of the value added in the production of Good X by Worker 2 is ________ of the value added in the production of Good Y.

• A) $0.50
• B) $0.70
• C) $87.50
• D) $100

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Definitions:

Introspection

The examination or observation of one's own mental and emotional processes.

Taking the Role

A concept in sociology that involves understanding or anticipating the expectations and reactions of others in social interactions.

Significant Other

A term used to describe a person's close and intimate partner, who holds great importance in their life.

Evoking Memories

The act or process of bringing past experiences to mind through stimuli that trigger recollection.