Refer to the accompanying figure. For Pat, the opportunity cost of planting one bulb is removing: 
A. 5 bags of trash.
B. 20 bags of trash.
C. 1/5 of a bag of trash.
D. 1/20 of a bag of trash.
Answer: C
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The United Auto Worker (UAW) would best be classified as
A) a craft union. B) an industrial union. C) a guild. D) closed shop union. E) none of the above
Antitrust laws in general are used to
a. prevent oligopolists from acting in ways that make markets less competitive. b. encourage oligopolists to pursue cooperative-interest at the expense of self-interest. c. encourage frivolous lawsuits among competitive firms. d. encourage all firms to cut production levels and cut prices.
A carbon tax is an example of:
A. a Coase theorem solution. B. a Coase tax. C. a Pigovian tax. D. a market failure.
The optimal level of consumption is achieved when ________
A) consumption in one period is equal to consumption in the next period B) utility in one period is equal to utility in the next period C) all income and wealth has been spent D) the slope of the indifference curve is equal to the slope of the budget line