Table 2-7 Table 2-7 Shows the Output Per Week of Week

question 39

Multiple Choice

Table 2-7
Table 2-7 shows the output per week of two people,Minnie and Mickey.They can either devote their time to making hats or making umbrellas.
-Refer to Table 2-7.What is Minnie's opportunity cost of making a hat?

• A)1/5 of an umbrella
• B)1/4 of an umbrella
• C)4 umbrellas
• D)10 umbrellas

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Definitions:

Financing Statement

A document filed by a creditor to indicate a security interest in the property of a debtor, used in securing loan agreements.

Perfection

In legal and finance contexts, the act of securing a priority interest in collateral to protect a secured loan or transaction.

Certificate of Deposit

A savings certificate entitling the bearer to receive interest, which has a fixed maturity date, and typically restricts withdrawal of funds before that date.

Breached the Peace

Breaching the peace refers to causing a disturbance or acting in a manner that disrupts public order or tranquility, often leading to legal penalties.