Table 7-3 Mateo and Celeste Produce Custom Saddles and Spurs.Table

question 153

Multiple Choice

Table 7-3
Mateo and Celeste produce custom saddles and spurs.Table 7-3 lists the number of saddles and pairs of spurs Mateo and Celeste can each produce in one month.
-Refer to Table 7-3.Select the statement that accurately interprets the data in the table.

• A)Mateo has a greater opportunity cost than Celeste for making saddles.
• B)Mateo's opportunity cost for making saddles is less than Celeste's.
• C)Celeste has a greater opportunity cost than Mateo for making saddles.
• D)Mateo's opportunity cost for making saddles and making spurs are both greater than Celeste's.

---

Definitions:

Net Income

represents the total earnings of a company after deducting all expenses and taxes from total revenue.

Return on Investment

The gain or loss generated on an investment relative to the amount of money invested.

Selling Margin

The difference between the cost of a product and its selling price, indicating the profit made on the sale.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.