Hans Can Do 4 Loads of Laundry Per Hour,and He

question 55

Multiple Choice

Hans can do 4 loads of laundry per hour,and he can type 6 pages per hour.Maria can do 12 loads of laundry per hour,and she can type 8 pages per hour.Maria's opportunity cost of typing one page is:

• A)4 loads of laundry.
• B)6 loads of laundry.
• C)3/2 of a load of laundry.
• D)2/3 of a load of laundry.
• E)impossible to compute without additional information.

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Definitions:

Dollar Votes

The “votes” that consumers cast for the production of preferred products when they purchase those products rather than the alternatives that were also available.

Goods and Services

The physical items (goods) and activities or benefits (services) that are produced or provided to meet the needs and wants of consumers.

Entrepreneurial Ability

Refers to the capacity to innovate, introduce new products or services, improve processes, and manage business ventures effectively.

Economic Profit

The difference in overall financial returns and total operational expenditures, including both specific and assumed costs.