Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs.
B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs.
C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs.
D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.
Answer: C
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Which of the following does NOT influence the type of oligopoly that forms?
A) Whether firms act sequentially or simultaneously. B) Whether firms set price or quantity. C) The type of demand curve the firms face. D) The time horizon over which firms will be in competition.
As long as the discount rate is ________ the interest rate on a loan, the present value of the cost of an investment equals the initial cost of the investment.
A) equal to B) less than C) exactly double D) greater than
Suppose the market consists of 3 individuals: Citizen A, Citizen B and Citizen C. 
If the good shown on the graphs is a public good, then the marginal benefit of the 30th unit is:
A. $4 B. $30 C. $2 D. $9
Other things being equal, the burden of a sales tax on a product will be borne entirely by the producer if:
A. Demand is perfectly elastic B. Supply is perfectly elastic C. Supply and demand have the same price elasticity D. Demand is perfectly inelastic