Scenario: Mark Can Make Three Tables and One Chair in a Day

question 111

Multiple Choice

Scenario: Mark can make three tables and one chair in a day, while John can make four tables and one chair in a day.
-Refer to the scenario above.Which of the following is true in this case?

• A) John should specialize in making chairs, and Mark should specialize in making tables.
• B) John should specialize in making both chairs and tables.
• C) Mark should specialize in making chairs, and John should specialize in making tables.
• D) Mark should specialize in making both chairs and tables.

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Definitions:

Complementary Good

A product that is consumed with another product, where demand for one increases demand for the other.

Normal Good

A good for which demand increases as the income of consumers increases.

Supply Curve

The supply curve is a graphical representation showing the relationship between the quantity of a good that producers are willing to sell and the price of the good.

Cooling Technology

Innovations and methods developed to remove or reduce heat from various systems or environments, such as electronic devices or buildings.