Tom and Jerry Have Two Tasks to Do All Day

question 123

Multiple Choice

Tom and Jerry have two tasks to do all day: make dishes and build fences.If Tom spends all day making dishes,he will have make 16 dishes.If he instead devotes his day to building fences,Tom will build 4 fences.If Jerry spends his day making dishes,he will make 14 dishes; if he spends the day building fences,he will build 7 fences.For Tom,the opportunity cost of building a fence is __________ dishes made.

• A) 16
• B) 12
• C) 8
• D) 4

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Definitions:

Inflation

It is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Probability Range

A statistical measure that quantifies the likelihood of various outcomes for an event, often expressed as a minimum and maximum value.

Returns

The profit or loss derived from an investment over a specific period, expressed as a percentage of the investment's initial cost.

Probability

A measure or estimation of how likely an event is to occur, often expressed as a fraction or percentage.