Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer is maximizing profits, his total costs will be
A. $11.
B. $66.
C. $90.
D. $132.
Answer: D
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A reduction in financial liquidity, producing deficient liquid assets
A) shifts the output supply curve to the right. B) shifts the output demand curve to the right. C) shifts the output supply curve to the left. D) shifts the output demand curve to the left.
The ability to produce a good at a lower opportunity cost than someone else is called
A) competitive production. B) comparative advantage. C) selective advantage. D) absolute advantage.
Most modern economists agree that there is a single factor that can be used to explain economic growth. a. This is a true statement because what are needed are abundant resources
b. This is a true statement because at the foundation of economic growth, it is essential that there exist extensive private property rights. c. This is a false statement because nearly all economists believe that economic growth is a complex process without a single dominant factor. d. This is a false statement because economists typically do not agree on policy issues.
When the production of a good creates external costs,
A. Society's collective well-being will be lower. B. Production of the good will be lower. C. The level of environmental pollution will be lower. D. Profits for the producer of the good will be lower.