Use the figure below: 
If good skiing costs $100 per day and horseback riding costs $50 per day, if you have $250 to spend how many days of horseback riding could you do?
A. 4 days
B. 2 days
C. 1 day
D. 5 days
Answer: D
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The imposition of all taxes, except a Pigouvian tax, leads to ________
A) an increase in consumer surplus B) an increase in producer surplus C) a fall in the price of the good D) a loss in total welfare
Refer to the scenario above. The seller will earn a revenue of ________
A) $100 B) $300 C) $200 D) $400
According to research by Robert Fogel, what proportion of the British population in 1780 was so malnourished that they could not perform manual labor?
a. 5 percent b. 10 percent c. 20 percent d. 25 percent
Keisha can produce the following combinations of X and Y: 100X and 20Y, 50X and 30Y, or 0X and 40Y. The opportunity cost of one unit of Y for Keisha is
A) 5 units of X. B) 0.2 units of X. C) 3 units of X. D) 1/2 unit of X. E) none of the above