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 variable costs are
A. $100.
B. $150.
C. $300.
D. $600.
Answer: C
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Explain how the AD curve can be derived from the IS-MP model
What will be an ideal response?
Investment in both physical and human capital tends to enhance economic growth because it generally
a. increases consumption during the current period. b. makes it possible for individuals to produce more goods and services per hour worked. c. encourages firms to expand output by employing more low productivity workers. d. encourages workers to unionize and thereby fight for higher wages.
Gerald earns a higher salary than his brother Peter because Gerald went to law school and is a lawyer, whereas Peter dropped out of college to work as a mechanic. The difference in salary illustrates a compensating differential
a. True b. False Indicate whether the statement is true or false
Numerous studies have shown that breathing second-hand cigarette smoke is harmful to your health. This suggests that a tax on cigarettes will:
A. have no effect on total economic surplus. B. increase total economic surplus. C. lead to a decrease in the price of cigarettes. D. decrease total economic surplus.