Microeconomics is concerned with individual performance as well as the economy as a whole.
Answer the following statement true (T) or false (F)
False
Microeconomics looks at the building blocks of any economy: firms, workers, and governments.
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If Utopia has a closed economy, the price of tile is $________ per case, and if it has an open economy the price of tile is $________ per case. 
A. 15; 10 B. 30; 15 C. 20; 15 D. 15; 20
A process through which a firm seeks to obtain earnings without contributing to production, thus wasting valuable resources, is known as
A. moral hazard. B. rent seeking. C. detrimental externality. D. a defective telescopic faculty.
Razor handles and razor blades are examples of goods that are substitutes.
a. true b. false
In 2012, which of the following sources of energy contributed the largest share in U.S. electricity generation?
A. Petroleum B. Nuclear C. Hydropower D. Natural gas