Suppose That Opportunity Costs Are Constant and That Fred Can

question 64

Multiple Choice

Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Ethel's opportunity cost to produce one cake is

• A) one-half pie.
• B) two pies.
• C) six pies.
• D) four pies.

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Definitions:

Ionic Compounds

Chemical compounds composed of ions held together by electrostatic forces known as ionic bonding.

Dissolve

The process of a substance becoming incorporated into a liquid to form a solution, typically through physical and chemical interactions.

Dissociate

Ionization in which ions are dissolved in water and the cations and anions are surrounded by water molecules.

Charge

In physics, charge refers to a property of matter that causes it to experience a force when near other electrically charged matter; there are two types, positive and negative, which attract each other.