starting a business

How much profit does the company make from producing and selling four soccer nets?

$109

What is the marginal cost of producing a fifth soccer net?

$2

How can producers make the MOST profit? Check all that apply.

2,3,5

If Sabrina's Soccer makes three nets, how many balls can the company produce?

4

What is the difference between absolute advantage and comparative advantage?

Absolute advantage is the ability to produce a good or a service at a lower production cost than competitors. Comparative advantage is the ability to produce a good or service at a lower opportunity cost than competitors.

Standard of living is the level at which

Consumers enjoy desired goods

Which statement correctly compares the two businesses?

In Case will require a less costly investment in labor, while Wrap It Up will require less capital in the long term.

Sabrina's Soccer produces soccer balls and soccer nets, which are sold at sporting goods stores. Which factors directly affect the company's profit? Check all that apply.

Not 2,3, and 5

At which two points will Sabrina's Soccer produce the most equal amounts of soccer balls and soccer nets?

Points C and D

Market saturation results from excess

SUPPLY

Stan's Sporting Goods is a competitor that can manufacture seven soccer balls out of a possible ten, if it makes one soccer net. Which statement correctly compares the two businesses?

Sabrina's Soccer has a comparative advantage over Stan's Sporting Goods because Sabrina's Soccer has a lower opportunity cost.

Which statement correctly explains the chart?

The opportunity cost of producing two soccer balls is one soccer net.

At which point on the graph are resources not used efficiently?

Y

At which level of production does the company make the least profit?

the first pair of cleats