Asked by Shannon Pennie on May 04, 2024
Verified
Refer to Table 2-2. What is the opportunity cost to Ecoville of increasing the production of socks from 600 to 900?
A) 400 glasses
B) 300 glasses
C) 200 glasses
D) 100 glasses
Production Of Socks
The manufacturing process of creating socks, involving various steps from the sourcing of materials to the final product packaging.
- Acquire insights into the notion of opportunity cost and how it affects financial decision-making.
Verified Answer
VB
Venus BurseMay 09, 2024
Final Answer :
B
Explanation :
The opportunity cost of increasing sock production from 600 to 900 is the reduction in glasses production from 700 to 400, which is 300 glasses.
Learning Objectives
- Acquire insights into the notion of opportunity cost and how it affects financial decision-making.
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