Refer to the Information Provided in Table 2 -Refer to Table 2

question 146

Multiple Choice

Refer to the information provided in Table 2.2 below to answer the following question(s) .
Table 2.2
$$\begin{array} { | l | l | l | } \hline & \text { Molly } & \text { Pete } \\\hline \text { Avatar Desigrn } & 6 & 3 \\\hline \text { Tattoo Desigri } & 3 & 2 \\\hline\end{array}$$
-Refer to Table 2.2. For Molly, the opportunity cost of designing four tattoos is ________ avatar designs.

• A) 6
• B) 8
• C) 12
• D) 24

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Definitions:

Supply Curve

A visual chart illustrating the connection between a product's price and the amount of the product that sellers are ready to manufacture and offer for sale.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicative of the flexibility of producers.

Midpoint Method

A technique used in economics to calculate the elasticity between two points on a demand curve by using their average.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in the price of that good, indicating the responsiveness of producers.