Consumers are most satisfied when
A) all of their income has been saved.
B) the total level of utility is as high as possible.
C) goods are bought "on sale."
D) they save more than they spend.
Answer: B
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Which of the following statements is true about a competitive market? A competitive market
A) has a handful of sellers but always has many buyers. B) must have a physical location. C) includes markets for goods and services but not for inputs. D) has so many buyers and sellers that no one can influence the price. E) has one seller competing to sell his or her product.
Workers who demand a wage that is higher than the equilibrium wage
A. Must belong to a union in order to secure a job. B. Will never benefit from joining a union. C. Will find it difficult to secure a job. D. Will easily secure a job.
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. The marginal cost of the seventh drone is
A. $2.86. B. $3.33. C. $20. D. indeterminate from this information.
Of the administrative costs for the SNAP program,
A. federal, state, and local governments split the costs evenly. B. states bear 50 percent of the costs. C. 100 percent are paid out of federal tax revenues. D. states pay 100 percent.