Please Answer Correctly

1.) Willy makes P25 an hour as a carpenter. He must take two hours off from work (unpaid) to go to the dentist to have a tooth pulled. The dentist charges P60. In terms of pesos, the opportunity cost of Willy's visit to the dentist is

P25.00

P50.00

P60.00

P110.00

2.) A company produces 100 units of a good at a cost of P400 or produces 101 units of the same good at a cost of P415. The P15 difference is

the marginal benefit of producing 101 units.

the marginal cost of producing the 101st unit.

The marginal cost of producing the first unit.

less than the average cost.

3.) The branch of economics that studies individual markets within the economy is called

macroeconomics.

microeconomics.

personal economics.

market economy.