Which of the following resources is the most rival? (1 point)
A music concert at a city park
A full moon
An interstate highway
A zoo
The labor of a hair stylist
2.
(01.02 LC)
Resource allocation is determined by which of the following? (1 point)
What are the most advantageous terms of trade?
When does marginal cost equal marginal benefit?
Which economy enjoys a lower opportunity cost for this good?
What is essential knowledge to pass on to the next generation?
What goods and services should be produced?
\fDemand for Product Z 12 10 4. 10 8 8.8 Price (Dollars) 6 16,6 4 24.4 30. 2 0 0 10 15 20 25 30 35 Quantity (Pounds)Demand for Product Z 12 10 4. 10 8 8.8 Price (Dollars) 6 16,6 4 24.4 30. 2 0 0 10 15 20 25 30 35 Quantity (Pounds)Price Supply A Pl = B P2 F C H P3 - - - - D G L - - Demand Q1 Q2 Q3 Quantity (units)Price Supply A Pl = B P2 F C H P3 - - - - D G L - - Demand Q1 Q2 Q3 Quantity (units)Price Supply A P1 B E - - - - -- P2 C F - = - P3 D F- - - - - - - Demand - - Q1 Q2 Q3 Quantity (units)Price MC ATC ATC, Quantity (units)10 9 8 7 Long Run Average Total Costs 6 A D Cost B C 2 1 2 3 4 5 6 7 Output 8 9 1010 9 8 7 Long Run Average Total Costs 6 A D Cost B C 2 1 2 3 4 5 6 7 Output 8 9 10\fPrice MC H AC M P, L N P, AR G P MR 0 Quantity 21 (units)MSC Price ($) MPC PC PE PF MSB Q' QuantityPrice ($) 5 S 4 3.5 + 3 2 D 360 540 Quantity33. (03.06 MC) A firm in a perfectly competitive market pr Current output 5000 units Current market price $5 Total cost $27,000 Marginal cost $5 Total variable cost $20,0008. (01.U5 MIC) The president of a small business is provided with the following options to imp Cost (thousands of dollars) Benefit (thousands of dollars) Option A 10 50 Option B 50 100 Option C 120 150 Option D 5 15 Option E 125 200 (1 point) Option A Option B Option C47. (05.03 MC) Use the table to answer the question that follows. Quantity of Labor MP of Labor Quantity of Capital MP of Capital 1 40 50 2 45 2 40 3 35 3 35 4 20 4 15 5 5 5 5 What combination of labor and capital would satisfy the input hiring rule that min 1 unit of labor: 3 units of capitalThe table below shows the total utility that Sarah enjoys based on Pizza Slices Consumed Total Utility (utils) 4 7 9 4 11 5 12 Based on the table above, which slice of pizza gives Sarah the highe O Slice 1 Slice ?Company A and Company B are competing oligopolists. Both compa their possible actions. Company B Increase Price Maintain Price Company A Increase Price $50, $40 $35, $30 Maintain Price $55, $45 $60, $35 The government announces a $5 million tax on firms that increase p Company A would earn $55 million; Company B would earn $45 m Company A would earn $30 million; Company B would earn $30 m(06.02 MC) Review the table below, which shows the quantity supplied and qu Price Quantity Supplied Quantity Demanded $1 3 7 $3 4 6 $5 5 5 $7 6 4- Assume the market shown is perfectly competitive and has social c Fewer than 5 units25. (03.01 MC) A business hires workers to help harvest blueberries. The following Number of Workers Marginal Product 7 2 10 12 4 11 9 6 610. (01.06 MC) Below is the total benefit Kenneth estimates he would get for jars of chocola Jars Total Benefit (dollars) 5 2 9 3 12 4 14 5 15 6 14 7 10 What is Kenneth's marginal benefit for his 6th jar of chocolate flavored haze
