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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Practice Questions 1

Practice Questions 1

Q 1."If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is: 2.The marginal benefit of a slice of pizza is the 3.Which of the following would most likely shift the production possibilities curve inward? 4.Economists assume that individuals 5.Economists reason that the optimal decision is to continue any activity up to the point where the

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1.c. $44 2.maximum amount that a consumer is willing to pay for the slice 3.a. a natural disaster like a hurricane 4.c. are rational and respond to incentives.