Suppose that your demand schedule for jeans is shown in the table below.
A) Your total utility from 5 pairs of jeans would be _____.
B) Your marginal utility for the fifth pair would be _____.
C) If the price of jeans were $10 a pair, your consumer surplus would be _____.
A) $185
B) $10
C) $185 - $50 = $135
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The above table shows the distribution of wealth and income in Miseria. Ninety-five percent of the wealth is owned by what percent of the population?
A) 20 percent B) 40 percent C) 60 percent D) 95 percent
The efficient scale of a firm is defined as the point where
A) average total cost is minimized. B) marginal revenue equals marginal cost. C) price equals marginal cost. D) marginal revenue equals zero.
An increase in demand will cause
a. an increase in supply. b. a decrease in quantity supplied. c. a decrease in supply. d. a decrease in equilibrium price. e. an increase in quantity supplied.
The table below shows a competitive firm's short-run production function. Labor is the firm's only variable input, and market price for the firm's product is $2 per unit. 
How much does the fifth unit of labor add to the firm's total revenue?
A. $60 B. $80 C. $10 D. $40 E. $160