Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If six microwave ovens are produced, Micro Oven's total costs are
A. $500.
B. $600.
C. $900.
D. indeterminate from this information.
Answer: B
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Dissaving occurs when
A. income is greater than saving. B. saving is greater than the interest rate. C. saving is greater than consumption. D. income is less than consumption.
Taxes impact incentives to use resources since they distort relative prices
Indicate whether the statement is true or false
For economists, the word "utility" means:
A. versatility and flexibility.
B. rationality.
C. pleasure or satisfaction.
D. purposefulness.
Management and a labor union are bargaining over how much of a $100 surplus to give to the union. The $100 is divisible up to one cent. The players have one shot to reach an agreement. Management has the ability to announce what it wants first, and then the labor union can accept or reject the offer. Both players get zero if the total amounts asked for exceed $100. Which of the following is NOT a Nash equilibrium?
A. Neither management requesting $100 and the labor union accepting $0 nor management requesting $70 and the labor union accepting $20 are Nash equilibria. B. Management requests $70 and the labor union accepts $20. C. Management requests $50 and the labor union accepts $50. D. Management requests $100 and the labor union accepts $0.