Figure 2.2 -Refer to Figure 2.2. Steve Vignetto Raises Cattle and Llamas

question 108

Multiple Choice

Figure 2.2

-Refer to Figure 2.2. Steve Vignetto raises cattle and llamas on his land. His land is equally suitable for raising either animal. Which of the graphs in Figure 2.2 represents his production possibility frontier?

• A)Graph A
• B)Graph B
• C)Graph C
• D)either Graph B or Graph C

---

Definitions:

February Sales

The total sales revenue generated by a company specifically in the month of February.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Credit Sales

Sales made on account, allowing customers to pay for goods or services at a later date.

Direct Labor

The wages paid to employees who are directly involved in the production of goods or provision of services, considered a variable cost.