Use the Following Scenario to Answer the Questions That Follow

question 131

Multiple Choice

Use the following scenario to answer the questions that follow.
Amy can produce either 5,000 pounds of cheese or 20 houses per year. Jim can produce either 5,000 pounds of cheese or 10 houses per year.
-Amy's opportunity cost of producing one pound of cheese is ________ house(s) .

• A) 1/250
• B) 1/20
• C) 20
• D) 250
• E) 500

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Definitions:

Professor

An academic professional or teacher of the highest rank in a college or university, specializing in a specific subject area or field.

Secretary

An administrative assistant tasked with managing office tasks, such as scheduling, communication, and file organization, to ensure efficient operation.

Intern

An individual, typically a student or recent graduate, undergoing supervised practical training in a professional setting.

Government Agencies

Bodies of the government responsible for the oversight and administration of specific functions, such as enforcement of laws, regulation of industries, and the provision of various services.