Betty and Ann Live on a Desert Island

question 280

Multiple Choice

Betty and Ann live on a desert island. With a day's labor, Ann can produce 8 fish or 4 coconuts; Betty can produce 6 fish or 2 coconuts. Ann's opportunity cost of producing 1 coconut is ________ and she should specialize in the production of ________.

• A) 8 fish per coconut; fish
• B) 2 fish per coconut; coconuts
• C) 6 fish per coconut; coconuts
• D) 0 fish per coconut; coconuts

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Definitions:

LPC Measurement

A tool used in the Fiedler contingency model to assess a leader's least preferred coworker, indicating their leadership style.

Vroom and Jago

Refers to the decision-making model developed by Victor Vroom and Arthur Jago that highlights the importance of choosing the best leadership or management style for specific situations.

Situational Model

A theoretical framework that suggests behavior and outcomes are the result of interactions between an individual’s characteristics and the environmental or situational factors.

Participation

The act of taking part or being involved in an activity, process, or discussion, contributing to decision-making or achieving a common goal.