Suppose That Opportunity Costs Are Constant and That Fred Can

question 252

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. Fred'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:

Crackers

Edible, dry, thin, crispy baked foods, often flavored or salted, commonly served as a snack or accompaniment.

Sensory Development

The maturation process of the senses, including sight, hearing, taste, smell, and touch, and their ability to process information from the environment.

Newborns

Infants who are in the initial period after birth, typically considered the first four weeks of life.

Vision

The ability to perceive surroundings by processing light and recognizing shapes, colors, and depth through the eyes; a crucial aspect of human and animal senses.