If the Consumer's Budget Constraint Is Given by 10F

question 42

Multiple Choice

If the consumer's budget constraint is given by 10F + 5S = 100 where F is food and S is shelter, what is the opportunity cost of food in terms of shelter?

• A)5
• B)2
• C)5.
• D)10

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Definitions:

Flat World

The idea that globalisation has led to a level playing field in terms of commerce, enabling all countries to compete equally.

Thomas Friedman

An American journalist, author, and three-time Pulitzer Prize winner known for his writings on globalization and technology.

Global Integration

The process of designing and implementing strategies to operate seamlessly across national borders, often involving the coordination of production, marketing, and R&D worldwide.

Globalization Of Production

The dispersal of production processes across different countries and regions, seeking to optimize costs, quality, and efficiency.