(Consider This) At fast-food restaurants:
A. consumers enjoy complete and accurate information.
B. decisions are usually made by trial and error.
C. decisions entail comparisons of marginal costs and marginal benefits.
D. benefits always exceed costs.
Answer: C
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Suppose a tax of $10 per unit is imposed on this market. What will be the new equilibrium quantity in this market?
A. less than 70 units B. greater than 100 units C. 70 units D. between 70 units and 100 units
Trade-offs involve an exchange of one thing for another because resources are limited and can be used in different ways.
Answer the following statement true (T) or false (F)
Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist. 
This monopolist maximizes its profit by producing ________ textbooks per week and charging a price of ________ per textbook.
A. 100; $40 B. 100; $80 C. 150; $40 D. 150; $20
How do high marginal tax rates influence the growth and prosperity of countries? What type of tax policy is needed to foster economic efficiency and growth?