Economics Chapter 9 Choice Reference Ref 911 Table Expected Question

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Reference: Ref 9-8

(Table: Marginal and Total Benefit) Look at the table Marginal and Total Benefit. Sed

is deciding how many football games he wants to attend this year. Rodger‘s

marginal benefit from increasing the number of games that he attends from two to

three is:

127. Multiple Choice: Reference: Ref 9-8 (Table: Marginal ...

Question

Reference: Ref 9-8

(Table: Marginal and Total Benefit) Look at the table Marginal and Total Benefit. Sed

is deciding how many football games he wants to attend this year. If tickets to each

football game cost $10, then he should attend ________ game(s).

Points: 0

128. Multiple Choice: Reference: Ref 9-8 (Table: Marginal ...

Question

Reference: Ref 9-8

(Table: Marginal and Total Benefit) Look at the table Marginal and Total Benefit. Sed

is deciding how many football games he wants to attend this year. If tickets to each

football game cost $75, how many games should he attend?

129. Multiple Choice: Reference: Ref 9-8 (Table: Marginal ...

Question

Points: 0

Reference: Ref 9-8

(Table: Marginal and Total Benefit) Look at the table Marginal and Total Benefit. Sed

is deciding how many football games he wants to attend this year. If the games are

free, how many games should he attend?

130. Multiple Choice: Reference: Ref 9-8 (Table: Marginal ...

Question

Reference: Ref 9-8

(Table: Marginal and Total Benefit) Look at the table Marginal and Total Benefit.

Rodger is deciding how many football games he wants to attend this year. Suppose

football tickets cost $10, but suppose too that the star player just got injured and

will be out for the season. As a result of the injury, Rodger‘s total benefit of attending

any game is now only 10% of the value shown in the table. In this case, how many

games should he attend?

Points: 0

131. Multiple Choice: Figure: The Optimal Quantity Referenc...

Question Figure: The Optimal Quantity

Reference: Ref 9-9

(Figure: The Optimal Quantity) Look at the figure The Optimal Quantity. If the

demand for lawn–mowing increased, the ________ curve in the figure would shift to

the ________ and the optimal quantity would be ________ five lawns mowed.

132. Multiple Choice: Figure: The Optimal Quantity Referenc...

Question

Points: 0

Figure: The Optimal Quantity

Reference: Ref 9-9

(Figure: The Optimal Quantity) Look at the figure The Optimal Quantity. If the

demand for lawn–mowing decreased, the ________ curve in the figure would shift to

the ________ and the optimal quantity would be ________ five lawns mowed.

Answer marginal benefit; right; more than

133. Multiple Choice: Figure: The Optimal Quantity Referenc...

Question Figure: The Optimal Quantity

Reference: Ref 9-9

(Figure: The Optimal Quantity) Look at the figure The Optimal Quantity. If the cost of

producing lawn-mowing decreased, the ________ curve in the figure would shift to

the ________ and the total net gain would ________.

Answer marginal benefit; right; increase

Points: 0

134. Multiple Choice: Figure: The Optimal Quantity Referenc...

Question Figure: The Optimal Quantity

Reference: Ref 9-9

(Figure: The Optimal Quantity) Look at the figure The Optimal Quantity. If the cost of

producing lawn-mowing increased, the ________ curve in the figure would shift to the

________ and the total net gain would ________.

Answer marginal benefit; right; increase

135. Multiple Choice: Figure: Marginal Benefits and Margina...

Question

Points: 0

Figure: Marginal Benefits and Marginal Costs

Reference: Ref 9-10

(Figure: Marginal Benefits and Marginal Costs) Look at the figure Marginal Benefits

and Marginal Costs. As shown, more time spent studying economics adds points to

economics scores but (MB) subtracts points from accounting scores (MC). When

Claudia studies economics for 4 hours, the marginal benefit is ________ points;

when Claudia studies for 6 hours, the marginal benefit is ________ points.

136. Multiple Choice: Figure: Marginal Benefits and Margina...

Question

Points: 0

Figure: Marginal Benefits and Marginal Costs

Reference: Ref 9-10

(Figure: Marginal Benefits and Marginal Costs) Look at the figure Marginal Benefits

and Marginal Costs. As shown, more time spent studying economics adds points to

economics scores (MB) but subtracts points from accounting scores (MC). The

marginal benefit of studying economics when Claudia studies for 2 hours is

________ points and the marginal cost is ________ points.

137. Multiple Choice: Figure: Marginal Benefits and Margina...

Question

Points: 0

Figure: Marginal Benefits and Marginal Costs

Reference: Ref 9-10

(Figure: Marginal Benefits and Marginal Costs) Look at the figure Marginal Benefits

and Marginal Costs. As shown, more time spent studying economics adds points to

economics scores (MB) but subtracts points from accounting scores (MC). The

marginal benefit of studying economics when Claudia studies for 4 hours is

________ points and the marginal cost is ________ points.

138. Multiple Choice: Figure: Marginal Benefits and Margina...

Question

Points: 0

Figure: Marginal Benefits and Marginal Costs

Reference: Ref 9-10

(Figure: Marginal Benefits and Marginal Costs) Look at the figure Marginal Benefits

and Marginal Costs. As shown, more time spent studying economics adds points to

economics scores (MB) but subtracts points from accounting scores (MC). At 4

hours of study, Claudia will “maximize” her study time because:

139. Multiple Choice: Reference: Ref 9-11 (Table: Expected...

Question

Reference: Ref 9-11

(Table: Expected Exam Scores from Studying Economics and Accounting) Look at the table

Expected Exam Scores from Studying Economics and Accounting. If you studied for a total of 3

hours, your combined scores would be maximized by spending ________ hours studying

economics.

Answer 1

Points: 0

140. Multiple Choice: Reference: Ref 9-11 (Table: Expected...

Question

Reference: Ref 9-11

(Table: Expected Exam Scores from Studying Economics and Accounting) Look at the table

Expected Exam Scores from Studying Economics and Accounting. If you studied for a total of 3

hours, your combined scores would be maximized by spending ________ hours studying

accounting.

Answer 0

141. Multiple Choice: Reference: Ref 9-11 (Table: Expected...

Question

Points: 0

Reference: Ref 9-11

(Table: Expected Exam Scores from Studying Economics and Accounting) Look at the table

Expected Exam Scores from Studying Economics and Accounting. If you studied for a total of 3

hours, you would expect your combined scores to be ________ points.

Answer 145

142. Multiple Choice: Reference: Ref 9-11 (Table: Expected...

Question

Reference: Ref 9-11

(Table: Expected Exam Scores from Studying Economics and Accounting) Look at the table

Expected Exam Scores from Studying Economics and Accounting. With 3 total hours of study

time, the opportunity (or marginal) cost in terms of your accounting score of spending the first

hour studying economics is ________ points.

Answer 0

Points: 0

143. Multiple Choice: Reference: Ref 9-11 (Table: Expected...

Question

Reference: Ref 9-11

(Table: Expected Exam Scores from Studying Economics and Accounting) Look at the table

Expected Exam Scores from Studying Economics and Accounting. If you studied for a total of 3

hours, the marginal benefit in terms of your economics score of spending the first hour studying

economics is ________ points.

Answer 5

144. Multiple Choice: Reference: Ref 9-12 (Table: Tutoring...

Question

Reference: Ref 9-12

(Table: Tutoring) Look at the table Tutoring. Sigmund faces:

Answer increasing marginal benefit.

Points: 0

145. Multiple Choice: Reference: Ref 9-12 (Table: Tutoring...

Question

Reference: Ref 9-12

(Table: Tutoring) Look at the table Tutoring. Sigmund‘s optimal number of tutoring

hours is:

146. Multiple Choice: Reference: Ref 9-12 (Table: Tutoring...

Question

Points: 0

Reference: Ref 9-12

(Table: Tutoring) Look at the table Tutoring. At the optimal hours of tutoring,

Sigmund‘s total net gain is:

147. Multiple Choice: Reference: Ref 9-12 (Table: Tutoring...

Question

Reference: Ref 9-12

(Table: Tutoring) Look at the table Tutoring. If the college requires all tutors to

number of tutoring hours will be:

Points: 0

148. Multiple Choice: Reference: Ref 9-12 (Table: Tutoring...

Question

Reference: Ref 9-12

(Table: Tutoring) Look at the table Tutoring. If the college requires all tutors to

gain from tutoring will be:

149. Multiple Choice: Reference: Ref 9-13 (Table: The Cost...

Question

Points: 0

Reference: Ref 9-13

(Table: The Cost of Producing Gadgets) Look at the table The Cost of Producing

Gadgets. You own a small manufacturing company that produces gadgets.

According to this table, the marginal cost is:

150. Multiple Choice: Reference: Ref 9-14 (Table: The Bene…

Question

Reference: Ref 9-14

(Table: The Benefit of Producing Gadgets) Look at the table The Benefit of Producing

Gadgets. You own a small manufacturing company that produces gadgets.

According to the table, the marginal benefit of consuming gadgets is:

Points: 0

151. Multiple Choice: Reference: Ref 9-15 (Table: The Cost...

Question

Reference: Ref 9-15

(Table: The Cost and Benefit of Producing Gadgets) Look at the table The Cost and

Benefit of Producing Gadgets. You own a small manufacturing company that

produces gadgets. According to the table, how many gadgets should you produce?

152. Multiple Choice: Figure: The Marginal Analysis of Cell...

Question Figure: The Marginal Analysis of Cell Phones

Reference: Ref 9-16

(Figure: The Marginal Analysis of Cell Phones) Look at the figure The Marginal

Analysis of Cell Phones. You are considering purchasing cell phones for your

department. The graph represents your marginal benefit and marginal cost curves.

How many cell phones will you consume?

Points: 0

153. Multiple Choice: Figure: The Marginal Analysis of Cell...

Question Figure: The Marginal Analysis of Cell Phones

Reference: Ref 9-16

(Figure: The Marginal Analysis of Cell Phones) Look at the figure The Marginal

Analysis of Cell Phones. You are considering purchasing cell phones for your

department. The graph represents your marginal benefit and marginal cost curves. If

you consume the fifth cell phone, your net change in total benefit will be equal to:

154. Multiple Choice: You have rented your first apartment,...

Question You have rented your first apartment, signing a lease that commits you to pay $500

each month for 12 months. You have an opportunity to take a trip to Europe during

the entire month of June and you will spend $2,000 traveling. Your apartment will be

vacant, but because of your lease, you must still pay the rent. The cost of taking the

trip to Europe is:

Points: 0

155. Multiple Choice: Denaro pays $8,000 per month in rent ...

Question Denaro pays $8,000 per month in rent to operate a health club in Memphis. He also

pays $17,000 per month in wages, $3,000 per month in food and supplies, and

$1,000 per month in insurance. All of his costs of production except his insurance

and rent can change if he makes different decisions about his health club

production. Denaro‘s sunk costs equal:

156. Multiple Choice: On Saturday night you plan to attend ...

Question On Saturday night you plan to attend a movie. You buy a ticket for $7 and then lose

it. According to marginal analysis, you should:

157. Multiple Choice: Sunk costs:

Question Sunk costs:

Points: 0