At a price of $1.00, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.20, the coffee shop would be willing to supply 150 cinnamon rolls per day. Using the midpoint method, the price elasticity of supply is about
a. 0.45
b. 0.90
c. 1.11
d. 2.20
d
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
An improvement in the technology used to produce goods would:
A fishing boat owner sells her entire catch of 8,000 fish and maximizes profit that is equal to $4,000 . Suppose fish prices increase and she now sells 10,000 fish. If fish prices increased by $1 per fish, what do you need to know to calculate her new average total cost?
a. average fixed cost b. change in average variable cost c. change in total variable cost d. how many fish she catches e. how much profit is made
Which of the following will lead to a depreciation of the U.S. dollar against the British pound?
A) an increase in British demand for U.S. imports B) an increase in U.S. interest rates C) a decrease in British demand for U.S. assets D) a decrease in U.S. demand for British goods