of that activity. 1 1) The extra cost associated with undertaking an activity is called A) net loss B) marginal cost. C) opportunity cost. D) foregone cost. 12) A restaurant sells a large soft drink at a fixed price of $1.79. A term used by economists to describe the money received from the sale of an additional large soft drink is A) marginal revenue B) gross earnings. C) pure profit. Dj net benefit. 13) The the sale of an additional unit of a product is a marginal benefit to the firm A) revenue received from B) extra cost of C) total value of D) sales tax on 14) Which of the following is an example of a "how much" decision? A) Dinah's Diner is only open for breakfast and lunch. Dinah is trying to decide whether to open for dinner as well. B') Zander has torn up his front yard and is debating whether to plant grass or install a rock garden C) You received a nice birthday check from your grandmother and are deciding on whether to spend it on a trip to New York or a trip to San Francisco. D) Sergio quit his job to go back to school full time. 15) What is an economic model? A) It is a description of an economic issue that includes all possible related information