Table 171 -Refer to Table 17

question 64

Multiple Choice

Table 17.1
$$\begin{array}{l}\text { Table } 17.1\\\begin{array} { | c | c | c | c | } \hline{ \text { Cambria } } & & { \text { Bodoni } } \\\hline \begin{array} { c } \text { Tons of rice per } \\\text { day }\end{array} & \text { T-shirts per day } & \begin{array} { c } \text { Tons of rice per } \\\text { day }\end{array} & \text { T-shirts per day } \\\hline 20 & 0 & 100 & 0 \\\hline 18 & 80 & 90 & 100 \\\hline 16 & 160 & 80 & 200 \\\hline 14 & 240 & 70 & 300 \\\hline 12 & 320 & 60 & 400 \\\hline 10 & 400 & 50 & 500 \\\hline 8 & 480 & 40 & 600 \\\hline 6 & 560 & 30 & 700 \\\hline 4 & 640 & 20 & 800 \\\hline 2 & 720 & 10 & 900 \\\hline 0 & 800 & 0 & 1,000 \\\hline\end{array}\end{array}$$
-Refer to Table 17.1, which 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 tons of rice.
• C) 0.75 tons of rice.
• D) 0.025 tons of rice.
• E) 2 tons of rice.

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Definitions:

Marginal Product

The elevation in production output stemming from the addition of one unit of input.

Profit Maximization

The process or strategy where a firm adjusts its production to achieve the highest possible profit.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery, buildings, and land.

Labor

The contribution of human physical and mental energies in the fabrication of goods and the supply of services.