According to the life-cycle theory of consumption, people tend to save during their main working years.
Answer the following statement true (T) or false (F)
True
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The increase in the price of sugar created by the tariff will lead domestic production to increase by ________ tons per year, compared to when the economy is open without the tariff. 
A. 20 B. 10 C. 40 D. 30
Compare a football quarterback’s daily and yearly completed pass percentage to a business’s marginal and average product.
What will be an ideal response?
While waiting in line to buy two tacos at 75 cents each, and a medium drink for 80 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $2.50. For Jordan, the marginal cost of purchasing the third taco would be
What will be an ideal response?
Two firms, Acme and FirmCo, have access to five production processes, each of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the table below.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Acme ($/day)$750$800$1,000$1,400$2,000Cost to FirmCo ($/day)$500$750$1,200$2,200$4,000 If pollution is unregulated, the two firms will produce using process ________, and a total of ________ tons of smoke will be emitted each day.
A. C; 12 B. A; 20 C. D; 4 D. B; 16