Consider the following information: the marginal products of labor for the US in producing Cars and Wheat are 24 and 18. Given the information above, US's opportunity cost of producing cars is: A. 0.50 wheat B. 1.33 wheat C. 0.75 cars D. 0.75 wheat

0.75 wheat

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

the opportunity cost of producing cars, is the quantity of wheat that would have to be forgone to produce one car

18 / 24 = 0.75 wheat

undervalued assets an liabilities by 50,000

Explanation:

The financial statement for the fiscal year ended on December 31th, 2012

will have the following mistake:

Liabilities are undervalued by 50,000

Cash wll be undervalued by 50,000

As the note payable is not recorded neither the cash receipts from the loan.

Because this transaction is missing, we are not doing a correct representation of reality. This account will be undervalued.