Refer to Table 4-6. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, producer surplus is
A) $0. B) $16. C) $52. D) $68.
D
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Your neighbors have offered to pay you to look after their dog while they are on vacation. It will take you one hour per day to feed, walk, and care for the dog, which you can do either before or after you go to work. Your regular job pays $10 per hour, and you can work up to eight hours per day. The smallest amount of money you would accept to look after your neighbor's dog is equal to:
A. $15 per day, because overtime wages are generally 1.5 times your regular wage when you work more than eight hours a day. B. the value of one hour of leisure, which is greater than zero. C. zero, because your regular job is not available for more than eight hours per day. D. $10 per day, because that is your opportunity cost of one hour of work.
Refer to Figure 4-5. What area represents the deadweight loss after the imposition of the ceiling?
A) C + E + J + H B) C + E C) G + H D) J + H
Deflation is defined as
A. a decrease in the inflation rate. B. a fall in the average price level. C. a period during which the average price level is low. D. a low rate of change in average prices.
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. In the short run, this company is ________, and in the long run, it should expect to ________.
A. suffering a loss; shut down B. suffering a loss; break even C. breaking even; break even D. making a profit; break even