A farm is able to produce 5,000 bushels of peaches per season on 100 acres. Assume it adds one more acre and is able to produce 6,000 bushels per season. The marginal product of the additional acre of land for this farm is:
A. 6,000 bushels per acre per year.
B. 5,000 bushels per acre per year.
C. 1,000 bushels per acre per year.
D. 11,000 bushels per acre per year.
Answer: C
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Information costs
A) are the costs of buying and selling financial claims. B) include the costs that savers incur to determine the credit worthiness of borrowers. C) include the costs borrowers incur to discover the best investments to make with the money they have borrowed. D) are zero in financial markets, but high for transactions carried out through financial intermediaries.
The government enforces property rights by
a. requiring property owners to pay property taxes. b. providing police and courts. c. forcing people to own property. d. providing public parks and recreation facilities.
If the price of Alpo increases from $0.50 to $1, Mr. Tightwad, a utility-maximizing consumer, would spend his $4 on which of the following?AlpoMcBurgersCans Consumed per DayTotal utility (Units of utility)McBurgers Consumed per DayTotal utility (Units of utility)000017116213228316336417440
A. 4 McBurgers B. 1 McBurger and 3 cans of Alpo C. 2 McBurgers and 2 cans of Alpo D. 3 McBurgers and 1 can of Alpo
In Figure 45.2, at the one-employer "company town solution," the wage paid to workers will be 
Figure 45.2
A. W2. B. W*. C. W1. D. an undetermined point between W1 and W2.