Table 2.7 Table 2.7 Shows the Output Per Day of Two Pet

question 63

Multiple Choice

Table 2.7

Table 2.7 shows the output per day of two pet groomers, Tammi and Horace. They can either devote their time to grooming dogs or bathing cats.
-Refer to Table 2.7. What is Horace's opportunity cost of bathing a cat?

• A)half a groomed dog
• B)two groomed dogs
• C)two-thirds of a groomed dog
• D)one and a half groomed dogs

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Definitions:

Additional Investments

Funds or assets that an investor or business owner contributes to a business beyond the initial investment, to support operations or expansion.

Net Loss

The amount by which total expenses exceed total revenues in a given period, indicating financial loss.

Accounts Payable

Liabilities to suppliers or creditors for goods, supplies, or services purchased on credit.

Owner's Capital

The amount of equity a business owner has invested in the company, representing the owner's claim against the assets of the business.