One opportunity cost associated with going to college is
A) purchasing text books.
B) paying tuition.
C) giving up employment possibilities while in college.
D) paying for room, board, and other living expenses.
Answer: C
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Commodity products are
a. rare and expensive b. patented and licensed c. highly differentiated d. uniform or standardized e. ones without impurities
Individuals will only pursue an activity if: a. E(MB) E(MC)
b. E(MB) = E(MC). c. E(MB) > E(MC). d. E(MB) < E(MC).
Marginal Cost is
A. the per unit fixed cost of production. B. the addition to cost associated with one additional unit of output. C. the per unit cost of production. D. the per unit variable cost of production.
Refer to the information provided in Figure 16.6 below to answer the question(s) that follow. 
Figure 16.6Refer to Figure 16.6. In the top portion of the figure are the demand curves of two people in this society for a public good. Which of the panels represents the market demand curve for the public good?
A. Panel A B. Panel B C. Panel C D. Panel D