Refer to the above table. What does the marginal physical product equal when the amount of labor goes from 11 to 12 units?
A) 600
B) 90
C) 100
D) 690
B
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Refer to the figure below. If demand shifts from D1 to D2, and at the same time, supply shifts from S1 to S2, then according to the figure: 
A. the equilibrium quantity will increase and the equilibrium price will increase. B. the equilibrium quantity will decrease and the equilibrium price will decrease. C. the equilibrium quantity will decrease and the equilibrium price will increase. D. the equilibrium quantity will increase and the equilibrium price will decrease.
Critically evaluate the following statement. "I am definitely in favor of free trade but only if it means fair trade."
What will be an ideal response?
Perfume (bottles) Cloth (yards) Nancy 20 15 Roger 24 12 The table above shows how much each of two people can produce in 40 hours. (For example, Nancy can produce 20 bottles of perfume in 40 hours.) For Roger, what is the opportunity cost of producing 1 bottle of perfume?
a. 3 yards of cloth b. 2 yards of cloth c. 1 yard of cloth d. 1/3 yards of cloth e. 1/2 yards of cloth
Which of the following situations results in a surplus of euros?
a. The dollar price of euros is higher than $1.50.
b. The dollar price of euros is equal to $1.50.
c. The dollar price of euros is slightly lower than $1.50.
d. The dollar price of euros is much lower than $1.50.