Answer:
The opportunity cost of that decision is - $250,000
Explanation:
For computing the opportunity cost, we have to use the formula of opportunity cost which is shown below:
= Return of project which is not chosen - the return of a chosen project
= $750,000 - $1,000,000
= - $250,000
Since in the question, it is given that the chosen project is X so we write the project X amount in the formula and the not chosen project of-course is Y. 
Hence, the opportunity cost of that decision is - $250,000
 
        
             
        
        
        
Answer:
A production function
Explanation:
A production function shows the relationship between the physical quantity output and the input of a good produced. It is the technical relationship between the physical output and physical input of a good. The production function is expressed as a mathematical function that relates inputs in numbers and their effect on output numbers.
 
        
             
        
        
        
Answer:
b. 6 pairs of jeans per crate of olives; and 
c. 4 pairs of jeans per crate of olives
Explanation:
                  Olives       Jeans      Trade off Ratio (Olives:Jeans) 
Spain            1               3            1:3 or 0.33:1       (1/3 = 0.33)
Denmark      1              11            1:11 or 0.09:1     (1/11= 0.09) 
Spain & Denmark have less opportunity cost & hence comparative advantage than each other,  in Olive & Jeans respectively. 
Spain will export Olives to Denmark (importer). Denmark will export Jeans to Spain (Importer). Trade will be gainful if they get exchange ratio better than domestic exchange ratio. 
- '2 jeans pairs per olive crate' not gainful trade ratio for Spain, as it is getting more i.e 3 jeans pair per olive crate at its own domestic ratio. 
- '13 jeans per olive' not gainful for Denmark, as 0.07 = (1/13) olive per jeans is worse than its own domestic ratio i.e 0.09 = (1/11) olive per jeans  
'4 jeans pairs per olive crate'  is gaining trade ratio for: 
- Spain: As it gets 4 i.e more than 3 pairs of jeans per olive crate 
- Denmark : As it gets 0.25 = (1/4) i.e more than 0.09 olive crates per pair of jeans 
'6 jeans pairs per olive crate' is gaining trade ratio for:
- Spain: As it gets 6 i.e more than 3 pairs of jeans per olive crate 
- Denmark : As it gets 0.16 = (1/6) i.e more than 0.09 olive crates per pair of jeans 
Both of them are gainful trade ratios, but: 
- 1olive:4 jeans is more gainful for Denmark, as it is gaining relatively more than domestic exchange rate (0.25 is more > 0.09 than 4 > 3).  
- 1olive:6jeans is more gainful for Spain as it is gaining relatively more than domestic exchange rate (6 is more > 3 than 0.16 > 0.09)  
 
        
             
        
        
        
Answer:
purchase order
Explanation:
a document that authorizes a supplier to deliver a product or service is known as a purchase order is the purchased cost of goods from outside suppliers cost of goods sold is used when requirements are well understood and there is common agreement between supply chain partners about what certain terms mean