Use the Following Scenario to Answer Thefollowing Questions

question 111

Multiple Choice

Use the following scenario to answer thefollowing questions:
An economy has two workers,Smith and Ricardo.Each day they work,Smith can produce 4 computers or 16 smartphones,and Ricardo can produce 6 computers or 12 smartphones.
-The opportunity cost for Ricardo to produce one smartphone is ________ computer(s) .

• A) one-quarter of a
• B) one-half of a
• C) one
• D) two
• E) four

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Definitions:

Birthday Cakes

Specifically designed cakes consumed as part of a celebration of an individual's birthday, often decorated and personalized according to preferences.

Marginal Cost

The augmentation in complete financial commitment resulting from the manufacture of one more unit of a good or service.

Fixed Costs

Costs that remain constant regardless of production or sales volume, including rent, salaries, and insurance fees.

Birthday Cakes

Bespoke or pre-made cakes specifically designed and decorated for celebrating someone's birthday.