The average total cost curves for plants A, B, C and D are shown in the above figure. Which plant is best to use to produce 60 units per day?
A) plant A
B) plant B
C) plant C
D) plant D
B
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Short-run decisions are:
A. constrained because some inputs are fixed and others are variable. B. constrained because all inputs are fixed. C. unconstrained because all inputs are variable. D. constrained because all inputs are variable.
The price elasticity of demand measures the responsiveness of
A) supply to demand changes. B) equilibrium changes. C) quantity demanded to changes in the price. D) demand to supply changes. E) the price to changes in quantity demanded.
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. The payroll tax imposed is ________ per unit of labor.
A. $2 B. $3 C. $5 D. $10
Last year, Linus earned a salary of $25,000 and he spent $24,000, thus saving $1000. At the end of the year, he received a bonus of $1000 and he spent $500 of it, saving the other $500. What was his marginal propensity to consume?
A. .96 B. .04 C. .50 D. .02