Tom Is Working the Graveyard Shift at the Mill

question 37

Multiple Choice

Tom is working the graveyard shift at the mill.He has just reached the "dead zone" and is experiencing problems with alertness.The clock on the wall reads:

• A) 1:00 AM
• B) 2:00 AM
• C) 5:00 AM
• D) 6:00 AM

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, used to evaluate the trade-offs in economic decision-making.

Marginal Principle

A decision-making practice that involves considering the additional benefits or costs of a change in activity level, choosing to increase the level if the marginal benefits exceed marginal costs.

Resources

Assets, materials, or substances available for use in the production process, human activities, or for satisfying needs.

Economists

Professionals who study how societies use scarce resources to produce valuable commodities and distribute them among different people.