1) The opportunity cost of building a public gymnasium is the

a. change in the real state estate tax rate to pay off the new gymnasium

b. cost of hiring guards and staff for the gymnasium

c. cost of constructing the new gymnasium in a future period

d. other goods and services that must be sacrificed to construct the new gymnasium

2) Determine what will happen to the equilibrium price and quantity if the more Filipinos are lose their jobs due to pandemic

a) the equilibrium price increase, equilibrium quantity decrease

b) the equilibrium price decrease, equilibrium quantity increase

c) both the equilibrium price and quantity increase

d) both the equilibrium price and quantity decrease

3) Determine what will happen to the equilibrium price and quantity if Chue-Mart banned the use of plastics and ordered their stores to use paper bags in pursuant to a more healthy ecology.

a) the equilibrium price increase and equilibrium quantity decrease for plastics

b) the equilibrium price decrease, equilibrium quantity increase for plastics

c) both the equilibrium price and quantity increase for paper bags

d) both the equilibrium price and quantity decrease for paper bags

4) Determine what will happen to the equilibrium price and quantity if the Philippine population balloon to 110 million.

a) the equilibrium price increase, equilibrium quantity decrease

b) the equilibrium price decrease, equilibrium quantity increase

c) both the equilibrium price and quantity increase

d) both the equilibrium price and quantity decrease

5) Determine what will happen to the equilibrium price and quantity if Digs and friends who are kulambo lovers, found a new trendy design of mosquito net.

a) the equilibrium price increase, equilibrium quantity decrease

b) the equilibrium price decrease, equilibrium quantity increase

c) both the equilibrium price and quantity increase

d) both the equilibrium price and quantity decrease