-Refer to Above Figure to Answer This Question

question 153

Multiple Choice

-Refer to above figure to answer this question.What is the opportunity cost of producing 1 apple in Harmony and in Tranquility?

• A)2 pears in Harmony and 3 pears in Tranquility.
• B)1/2 pear in Harmony and 1/3 pear in Tranquility.
• C)2 pears in Harmony and 1/3 pear in Tranquility.
• D)1/2 pear in Harmony and 3 pears in Tranquility.
• E)3 pears in Harmony and 2 pears in Tranquility.

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Definitions:

Competitive Advantage

A factor that allows a company to produce goods or services better or more cheaply than its competitors, leading to a superior market position.

Dominant Market Share

Refers to the percentage of an industry or market's total sales that is earned by a particular company over a specified time period, highlighting the company's strength and leadership in the market.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period.

Cost Of Goods Sold

The immediate expenses associated with manufacturing the products a company sells, such as materials and workforce costs.