Thank you

QUESTION 1 Suppose the price of tomatoes is $1 in Des Moines, and $3 in Chicago. Compute the percent difference using the midpoint formula. O 200 percent. O 67.7 percent. O 2 percent. O 100 percent. QUESTION 2 Suppose an employed person is deciding how many vacation days to take for a trip to California. The rational choice is to take vacation days up to the point where marginal benefit of the last day O is as high as possible. O is as high as possible above its marginal cost. O equals zero. O begins to fall below its marginal cost. QUESTION 3 In economics, "rational behavior" means O ignoring "soft" concerns like friendships and charity. O doing the best one can with what one has. O maximizing one's income. O using math to make decisions. O making sacrifices for a better future.QUESTION 4 A consumer's spending share on travel equals the consumer's spending on travel divided by the same consumer's total spending. Suppose spending on travel rises by 5 percent and total spending rises by 1 percent. Then the spending share approximately 0 increases by 4 percent. 0 decreases by 0.2 percent. 0 increases by 5 percent. 0 increases by 6 percent. QUESTION 5 Corinne buys a ticket for a concert for $40, but discovers on arriving at the concert venue that scalpers are willing to pay $100 for her ticket. Her opportunity cost of attending the concert is 0 $60. 0 $0. 0 $100. 0 $40. QUESTION 6 "Congress should act quickly to extend unemployment insurance benets." is an example of O a normative statement. 0 a positive statement. O an interrogative statement. 0 a bank statement. QUESTION 7 A company's revenue equals the price of its product times the quantity it sells. Suppose the price falls by 3 percent and the quantity sold rises by 4 percent. Then revenue approximately 0 increases by 7 percent. 0 increases by1 percent. 0 decreases by 12 percent. 0 increases by 12 percent. QUESTION 8 Suppose a bowling alley charges customers $5 for one game, $3 for two games, and $9 for three games. A bowler's marginal costs ofthe rst, second, and third games are 0 $5, $3. and $1. O $5, $3, and $9. 0 $5, $4, and $3. 0 $3. $3, and $3. QUESTION 9 In economics, a situation is an "equilibrium" if 0 no one wants to change their choices. 0 total costs equal total benets. 0 opportunity costs are zero. 0 social welfare is maximized. QUESTION 10 The marginal cost of a checked bag for an airline passenger is defined as O the cost to the passenger of the first checked bag. O the average cost per bag for the passenger on that flight. O the total baggage cost for the passenger on that flight. O the increase in the passenger's total baggage cost caused by the last bag