Use the Following to Answer Questions

question 156

Multiple Choice

Use the following to answer questions :
Figure: Comparative Advantage
Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods.
-(Figure: Comparative Advantage) Look at the figure Comparative Advantage. The opportunity cost of producing 1 box of oranges for Eastland is _____ box(es) of peaches.

• A)1
• B)0.25
• C)4
• D)10

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Definitions:

Customized Coffee Mugs

Coffee mugs that are personalized or altered according to individual preferences, often for promotional or gift purposes.

Form Utility

The value provided to products through the process of altering their design, shape, or packaging to make them more useful or appealing to consumers.

Place Utility

Describes the value added to products by having them in a location where they are needed or wanted by consumers.

Ownership Utility

The value or benefit a consumer receives from having complete control and ownership over a product or service.