Refer to the data provided in Table 10.2 below to answer the following question(s).
Table 10.2 
Refer to Table 10.2. If workers are paid $150 per day, then the firm is profit maximizing when it hires ________ workers.
A. two
B. three
C. four
D. five
Answer: C
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If the marginal tax rate is less than the average tax rate, the tax system is
A) progressive. B) proportional. C) regressive. D) liberal.
Suppose both the demand for and supply of salsa increase (although not necessarily by the same amount). What can we conclude about changes in the price and quantity of salsa?
A. Both the price and quantity increase. B. The price increases but the change in the quantity cannot be determined. C. Both the price and quantity decrease. D. The quantity increases but the change in the price cannot be determined.
Which panel of Figure 3.3 represents the changes in the market for student housing when university enrollment increases and at the same time the university destroys several older residence halls and apartment buildings?
A. A. B. B. C. C. D. D.
If a major league baseball player would be willing to work for $700,000 per year and is currently being paid $1,200,000 per year, that player is earning an annual economic rent of
A) $700,000. B) $1,900,000. C) $1,200,000. D) $500,000.