Use the Following to Answer Question

question 14

Multiple Choice

Use the following to answer question
Figure: Gizmos and Gadgets
-(Figure: Gizmos and Gadgets) Using the graph,we see that the opportunity cost of 1 gizmo is:

• A) 1 gadget.
• B) 2 gadgets.
• C) 50,000 gadgets.
• D) 25,000 gadgets.

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Definitions:

Service Firms

Companies that provide intangible products or services to consumers or other businesses, as opposed to tangible goods.

Manufacturing Costs

The total expenses involved in producing a product, including materials, labor, and overhead costs.

Geographic Information Systems

Systems used for storing, manipulating, and analyzing geographical data.

Centre-of-Gravity

A geographical strategy tool used in supply chain management to determine the best location for facilities by minimizing transportation costs.