*939Jose Chavez, individually and on behalf of all others similarly situated, Plaintiff, represented by Jessica Thompson, Hagens Berman Sobol Shapiro LLP, Shana E. Scarlett, Hagens Berman Sobol Shapiro LLP, Steve W. Berman, Hagens Berman Sobol Shapiro LLP, pro hac vice, E. Powell Miller, The Miller Law Firm, P.C., James E. Cecchi, Carella Byrne Cecchi Olstein Brody & Agnello, P.C., Jeffrey Scott Goldenberg, Goldenberg Schneider, LPA, Lindsey H. Taylor, Carella Byrne, Peter B. Fredman, Law Office of Peter Fredman & Sharon S. Almonrode, The Miller Law Firm, P.C.

Benjamin Greenberg, individually and on behalf of all others similarly situated & Andrew Loescher, individually and on behalf of all others similarly situated, Plaintiffs, represented by Steve W. Berman, Hagens Berman Sobol Shapiro LLP, pro hac vice, E. Powell Miller, The Miller Law Firm, P.C., James E. Cecchi, Carella Byrne Cecchi Olstein Brody & Agnello, P.C., Jeffrey Scott Goldenberg, Goldenberg Schneider, LPA, Lindsey H. Taylor, Carella Byrne & Sharon S. Almonrode, The Miller Law Firm, P.C.

additional question

21. The opportunity cost of a choice X is best described as the

22. Suppose Marjorie currently values a pair of shoes at $50, and the price of a pair of shoes is $40. What is

Marjorie's best course of action?

23. Sue is a college president considering several construction projects: build a gym, a dormitory, or a science

building. Construction costs for each building are the same. If she builds a gym, the college will earn an

additional $120,000. If she builds a dormitory, the college will earn an additional $120,000. If she builds a

science building, the college will earn an additional $100,000. What is the opportunity cost of building a

dormitory?

24. Suppose a state-operated pizza parlor set the price and quantity of pizza produced in an economy. Which of

the following might result?

I. Price may not reflect the true cost of production.

II. The manager of the pizza parlor may not be motivated to seek better ways to produce.

III. An inefficient amount of pizza may be produced.

(A) I only

(B) II only

(C) I and II only

(D) II and III only

(E) I, II, and III

25. In a production possibilities frontier, which of the following would describe the location of an efficient point of production?

(A) Just on the inside of the curve or line

(B) On the inside of a curve, but not on the inside of a straight line

(C) Just on the outside of either a curve or a line

(D) On a line or a curve

(E) On a line, but not on a curve

ANS:- (D) A production possibilities frontier (frequently abbreviated as PPF) shows all of the efficient combinations

of production of two goods. It is called a frontier because it shows the limit of possibilities given the available

resources. A PPF may be a straight line or bowed outward. All the points that lie on the PPF are efficient. All points

that lie outside the PPF are unattainable given the current available resources. All points that lie inside the PPF are

inefficient, meaning that not all of the resources are being used in production.

26. If there is an increase in the quantity of one of the economic resources that is used to make both good A

and good B on a production possibilities frontier, which of the following would be true?

(A) A point that had previously been inefficient will now be efficient.

(B) A point that had previously been efficient will now be unattainable.

(C) A point that had previously been unattainable will now be efficient.

(D) You can increase the production of good A only.

(E) You can increase the production of good B only.