Microeconomics Pre-test Questions

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Suppose your first cup of coffee each day gives you $4.00 in total. Your second cup gives you an additional $3.00 in benefit and the third gives $2.00 in additional benefit. By the fourth cup of coffee, the caffeine really gets to you and you get no additional benefit If the coffee shop you go to charges $2.50 for a cup of coffee, based on marginal analysis, how many cups would you drink?

two

Dave owns a home business where he makes paintings and sells them on the internet. Each week the first painting he makes sells for $100, the second $80, the third $60, and the fourth $40

Two

Jane is trying to decide how many TV shows she should watch tonight. She gets $10 of value from each TV show she watches. If she watches one show she gives up working on her math homework (which she values at $5). If she watches two, she also gives up her economics homework (which she values at $8). If she watches three then she also has to give up her biology homework (which she values at $12)

Two

Marginal analysis is the method of analyzing "how much" type questions by comparing the additional (marginal) cost of doing more with what?

the marginal benefit


Kaugnay na mga set ng pag-aaral

Weather and climate study guide 2

View Set

Topic 6- The Age of Imperialism World History

View Set

NSG-320 Urinary Tract Infections

View Set