Figure 3-2 -Refer to Figure 3-2.For Jerry,the Opportunity Cost of 1 Pound

question 141

Multiple Choice

Figure 3-2

-Refer to Figure 3-2.For Jerry,the opportunity cost of 1 pound of cones is

• A)1/3 pound of ice cream.
• B)2/3 pound of ice cream.
• C)3/2 pounds of ice cream.
• D)2 pounds of ice cream.

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Definitions:

Market Price

The present rate at which a service or asset is available for purchase or sale on an open market.

Dividends

Disbursements issued by a corporation to its owners, often in the form of profit sharing.

Price-Earnings Ratio

A valuation metric for stocks, calculated by dividing the market price per share by the earnings per share.

Market Price

The present rate at which a service or asset is available for purchase or sale on the public market.