Table 2-9 Table 2-9 Shows the Output Per Week of Week

question 138

Multiple Choice

Table 2-9
Table 2-9 shows the output per week of two jewelers, Serena and Haley. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-9. What is Serena's opportunity cost of making a necklace?

• A) 2 necklaces
• B) 1/2 of a bracelet
• C) 1/2 of a necklace
• D) 3/4 of a bracelet

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Definitions:

Final Selling Price

The ultimate price at which a product or service is sold to the consumer, including all discounts, promotions, and negotiations.

Original Markup

The difference between the cost of a product and its initial selling price, set to achieve a desired profit margin.

Maintained Markup

The percentage difference between the selling price of a product and its cost, ensuring a certain profit margin is sustained.

Off-Price Retailing

Selling brand-name merchandise at lower than regular prices.