Gabriel operates a ranch in Idaho where he raises cattle and grows potatoes. The figure above illustrates his production possibilities frontier. What is Gabriel's opportunity cost of growing another ton of potatoes?
A) 0 cows
B) 1 ton of potatoes
C) 80 cows
D) 400 cows
E) 100 cows
C
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Developing countries often justify imposition of tariffs because:
a. it creates a burden on government budget. b. it is easy to collect direct taxes from people in the developing countries. c. a large number of people in the developing countries earn a taxable income. d. developing countries find income taxes difficult to levy and collect. e. the volume of imports of these countries is considerably low.
Which of the following is most consistent with the benefits principle?
A. Charging taxes to the people who use the funded services B. Taxes that account for a person’s ability to pay C. Excise taxes on imported aluminum D. Sales taxes on cigarettes
In Figure 5.7, assuming perfect competition, which price(s) is associated with a loss? 
A. MR1 B. MR2 C. MR3 D. MR1 and MR2
Refer to the table below. To increase output from 33 to 66 units requires ________ extra employee-hour(s); to increase output from 66 to 99 units requires ________ extra employee-hour(s).OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 2; 4 B. 1; 1 C. 2; 1 D. 1; 2