Table 13 Shows the Hypothetical Trade-Off Between Different Combinations of Brushes

question 99

Multiple Choice

Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X,ceteris paribus.Complete the table by calculating the required opportunity costs for brushes and combs. $\begin{array}{|c|c|c|c|c|c|}\hline \text { Combination } & \begin{array}{c}\text { Number } \\\text { of } \\\text { Brushes }\end{array} & \begin{array}{c}\text { Opportunity Cost } \\\text { of Brushes in } \\\text { Terms } \\\text { of Combs }\end{array} & \begin{array}{c}\text { Number } \\\text { of Combs }\end{array} & \begin{array}{c}\text { Opportunity Cost } \\\text { of Combs in Terms } \\\text { of Brushes }\end{array} \\\hline \text { J } & 0 & & 4 \\\hline \mathrm{K} & 10 & & 3 \\\hline \mathrm{L} & 17 & & 2 \\\hline \mathrm{M} & 21 & & 1 \\\hline \mathrm{N} & 23 & & 0 \\\hline\end{array}$

Table 1.3
Production Possibilities for Brushes and Combs On the basis of your calculations in Table 1.3,the law of increasing opportunity costs applies to

• A)Both brushes and combs.
• B)Combs but not brushes.
• C)Brushes but not combs.
• D)Neither brushes nor combs.

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Definitions:

Inflation

A general increase in prices and fall in the purchasing value of money, affecting economic conditions.

Values

Core beliefs or standards that guide and motivate attitudes and actions in individuals and organizations.

Organizational Culture

The shared values, beliefs, practices, and norms that define an organization's social and psychological environment.

Edgar Schein

A notable American organizational psychologist, known for his contributions to the understanding of organizational culture.