-In the Figure Above, If the Quantity of Yogurt Produced

question 12

Multiple Choice

-In the figure above, if the quantity of yogurt produced increases from 2 gallons an hour to 3 gallons an hour, the opportunity cost of a gallon of yogurt in terms of ice cream is

• A) half a gallon.
• B) 1 gallon.
• C) 3 gallons.
• D) 4 gallons.

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Definitions:

Company Profits

The financial gain that a company achieves after all expenses, taxes, and costs have been subtracted from total revenue.

Time-Series Graph

A two-variable graph that has dates on the horizontal axis and values of a variable that occurred on those dates on the vertical axis.

Seasonally Adjusted

A statistical technique used to remove seasonal variations from a data series to more clearly analyze trends.

Unemployment Rate

The fraction of individuals in the labor force who are without jobs and are searching for employment.