1. If each additional hour spent studying reduces time available for sleep and leisure, then at some point a student will decide ________. (Points : 20) that the additional benefit is not worth the cost that the long run benefit is well worth the cost that the additional benefit is a marginal cost that the marginal time is not worth the marginal cost
Question 2. 2. A sales tax or excise tax is an impact on efficiency because ________. (Points : 20) the seller loses control of the product the government gains control of the product it increases price to buyers and reduces the price received by sellers a price ceiling is placed on the products that are taxed
Question 3. 3. ________ impact economic efficiency because no transactions are allowed at any price. (Points : 20) Price regulations Quotas Bans Price caps
Question 4. 4. Marginal benefits measure the ________. (Points : 20) constructive cost of producing or consuming breaking cost of producing or consuming opportunity cost of producing or consuming equilibrium cost of producing or consuming 1. If each additional hour spent studying reduces time available for sleep and leisure, then at some point a student will decide ________. (Points : 20) that the additional benefit is not worth the cost that the long run benefit is well worth the cost that the additional benefit is a marginal cost that the marginal time is not worth the marginal cost
Question 2. 2. A sales tax or excise tax is an impact on efficiency because ________. (Points : 20) the seller loses control of the product the government gains control of the product it increases price to buyers and reduces the price received by sellers a price ceiling is placed on the products that are taxed
Question 3. 3. ________ impact economic efficiency because no transactions are allowed at any price. (Points : 20) Price regulations Quotas Bans Price caps
Question 4. 4. Marginal benefits measure the ________. (Points : 20) constructive cost of producing or consuming breaking cost of producing or consuming opportunity cost of producing or consuming equilibrium cost of producing or consuming
Question 5. 5. Which of the following would NOT be an example of a capital good? (Points : 20) groceries new office building computer software theatre tickets Question 5. 5. Which of the following wouldNOT be an example of a capital good? (Points : 20) groceries new office building computer software theatre tickets
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