Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If one drone is produced, average fixed costs are
A. $0.
B. $50.
C. $80.
D. indeterminate from this information.
Answer: B
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Suppose a company sells its product for $5.00 . It's industrial engineers have informed management that hiring one additional worker will increase output by five units per hour. The company should hire the additional worker only if the wage rate is
a. $5.00 or less per hour. b. $1.00 or more per hour. c. $25.00 or less per hour. d. none of the above.
Comparing firms in perfectly competitive markets to monopoly firms, which charges a price equal to marginal cost?
The income elasticity of demand for ________ goods tends to be positive, while demand for ________ goods tends to be negative
a. normal; inferior b. inferior; normal c. necessary; luxury d. luxury; necessary
Refer to Table 4.1. If Mike starts with 4 CDs and 1 economics book, would he be willing to trade one CD for two economics books?
A. Yes, because the bundle with 3 CDs and 3 economics books is ranked higher than the bundle with 4 CDs and 1 economics book
B. No, because the bundle with 3 CDs and 3 economics books is ranked higher than the bundle with 4 CDs and 1 economics book
C. Yes, because the bundle with 4 CDs and 1 economics book is ranked higher than the bundle with 3 CDs and 3 economics books
D. No, because the bundle with 4 CDs and 1 economics book is ranked higher than the bundle with 3 CDs and 3 economics books