The Table Below Illustrates That,in One Day,Tristan Can Produce Either

question 81

Multiple Choice

The table below illustrates that,in one day,Tristan can produce either 12 fishing lures or mow 3 lawns,while Thomas can produce either 6 fishing lures or mow 6 lawns.
TABLE 1-1
-Refer to Table 1-1.Which of the following statements about Tristan's and Thomas's opportunity costs is correct?

• A)Tristan has a higher opportunity cost of producing mowed lawns.
• B)Thomas has a higher opportunity cost of producing mowed lawns.
• C)Tristan has a higher opportunity cost of producing fishing lures.
• D)Thomas has a higher opportunity cost of producing fishing lures.
• E)Both A and D are correct.

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Definitions:

Income Tax

A tax imposed by the government on the income generated by businesses and individuals within their jurisdiction.

Sales Agent

An individual or entity authorized to sell or negotiate the sale of goods or services on behalf of another party, known as the principal.

Domestic Corporations

Businesses incorporated within a particular state or country, subject to its laws and regulations.

Qualify to do Business

The process by which a company meets the legal requirements to conduct business in a jurisdiction other than where it was established.