Jeff owns a garage and has 3 mechanics to help him. With the tools used being fixed in the short run, his production function is given by 5 + 2L = Y , where L is the number of mechanics and Y is the number of cars they can fix. If Jeff hires a fourth mechanic, what will be the marginal product of the new mechanic hired?
a. 11
b. 13
c. 2
d. 7
C
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Use the table below to answer the following question.UnitsMarket PriceMinimum Acceptable Price1$10$22104310641085101061014What is the value of producer surplus in the table above?
A. $6 B. $20 C. $54 D. $12
Refer to the figure above. If the capital stock is fixed at $300, what is the consumption in the economy?
A) $3,000 B) $4,000 C) $2,000 D) $5,000
The firm learns that the probability of launch estimated for the voice activated software was too optimistic and instead is actually 65%. Is it still worth for the company to develop the simplified software?
a. No, because the expected return is lower b. No, because the expected return is higher c. Yes, because the expected return is higher d. Yes, because the expected return is lower