The accompanying graph shows the cost curves for Moe's mushroom gathering business, which is perfectly competitive. 
If mushrooms sell for $10 per bushel, and Moe chooses the profit-maximizing quantity, he will gather:
A. zero bushels.
B. 20 bushels.
C. 30 bushels.
D. 50 bushels.
Answer: A
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If Bonnie can produce either 20 hats or 10 scarves in a month, and Phil can produce either 5 hats or 10 scarves in a month, then
A) Bonnie is more efficient at producing hats, compared to Phil. B) Bonnie is equally efficient at producing scarves, compared to Phil. C) both A and B above are true. D) none of the above are true.
One plausible explanation of the U.S. productivity slowdown starting in 1973 is that it was the result of the time needed to adapt to new technology. This explanation would require that
A) workers withdraw from the labor force to learn about the new technology. B) a large number of new entrants be attracted to the labor force. C) managers be reluctant to adopt changes. D) workers time at their jobs be diverted from production to learning the technology.
In general, economists place all factors of production into which three categories?
A. Land, labor, and capital B. Technology, land, and capital C. Land, labor, and technology D. Technology, labor, and capital
The number of people unemployed and employed equals the
A. participation rate. B. labor force. C. employment rate. D. working-age population.