With a Budget of $200 Million,the Government Can Choose to Purchase

question 38

Multiple Choice

With a budget of $200 million,the government can choose to purchase 4 helicopters or repair 200 km of highway. FIGURE 1-1
-Refer to Figure 1-1.For the government,the opportunity cost of one kilometre of highway repair is

• A)1 search and rescue helicopter.
• B)1/2 of a search and rescue helicopter.
• C)1/10 of a search and rescue helicopter.
• D)1/50 of a search and rescue helicopter.
• E)1/100 of a search and rescue helicopter.

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Definitions:

Agency Relationship

A legal and principal relationship formed between two parties, where one party, the agent, is authorized to act on behalf of another, the principal, in business dealings.

Negligence Alleging

The act of claiming or asserting that a party failed to meet its duty of care, leading to harm or damage.

Independent Contractor

An individual or business that provides goods or services to another entity under terms specified in a contract or within a verbal agreement, not considered an employee.

Independent Contractor

An individual in business for themselves, who provides services to others under terms specified in a contract or agreement.