The Table Given Below Represents the Output Per Hour of Cookies

question 74

Multiple Choice

The table given below represents the output per hour of cookies and chilies in Ohio and Iowa. Table 2.4
Refer to Table 2.4.If trade were to occur, what would be the least amount Ohio would be willing to accept for 1 cookie?

• A)8 chilies
• B) of a chili
• C) of a chili
• D)4 chilies
• E)12 chilies

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Definitions:

Credit Period

The amount of time the buyer is allowed in which to pay the seller.

Merchandise

Goods that are bought and sold in business transactions.

Invoice

The bill that the seller sends to the buyer.

Gross Profit

The financial metric that indicates the difference between revenue and the cost of goods sold (COGS), revealing how much a company earns from its core business activities.