It Takes Mom 30 Minutes to Cook Dinner

question 174

Multiple Choice

It takes Mom 30 minutes to cook dinner. In the same time, she can iron 6 shirts. Dad takes an hour to cook dinner and 30 minutes to iron a single shirt.

• A) Dad has an absolute advantage in cooking.
• B) Mom should cook dinner and iron; trade is impossible.
• C) Dad has an absolute advantage in ironing shirts.
• D) Dad should cook dinner; the opportunity cost is only 2 shirts.
• E) Dad should cook dinner; the opportunity cost is only 1 shirt.

Understand the relevance of fixed and variable costs in product discontinuation decisions.

Apply cost-volume-profit analysis to assess the impact of new products on overall profitability.

Determine the profitability of upgrading versus selling products in their current condition.

Understand the impact of the Charter of Rights and Freedoms on human resource and industrial relations.

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Definitions:

Paradoxical Sleep

Another term for REM (Rapid Eye Movement) sleep, a sleep stage characterized by vivid dreaming, increased brain activity, and temporary muscle paralysis.

Voluntary Muscles

Muscles that are under conscious control, used in actions such as speaking, walking, and grabbing objects.

SCN

Stands for the Suprachiasmatic Nucleus, a small region in the brain that regulates the circadian rhythms, including sleep-wake cycles.

Pineal Gland

A small endocrine gland in the vertebrate brain that produces the hormone melatonin, involved in regulating sleep patterns.