Use the Following to Answer Questions

question 12

Multiple Choice

Use the following to answer questions:
-(Table: Production Possibilities for Machinery and Petroleum) Use Table: Production Possibilities for Machinery and Petroleum.In Canada,the opportunity cost of producing 40 units of machinery is _____ units of petroleum.

• A) 80
• B) 60
• C) 40
• D) 20

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Definitions:

Crafters Fair

An event where artisans and craftspeople showcase and sell their handmade goods, often featuring a variety of unique items.

Marginal Costs

The additional cost incurred in producing one more unit of a product or service.

Sunk Costs

Costs that have already been incurred and cannot be recovered, which should not influence future business decisions.

Shut Down

The process of ceasing operations or activity, either temporarily or permanently.