Principles of Microeconomics Practice Final Exam

• the total value of an activity
• the value associated with one more unit of an activity (correct)
• the net benefit of an activity
• the value associated with an unimportant activity

• Are companies like Nike exploiting workers in the developing world
• Can a monopoly ever be good for society
• What are the returns to education (correct)
• Is there a value in putting yourself in someone else’s shoes

• The minimum price at which a seller is willing to sell a product
• The rewards or penalties that motivate buyers to behave in a particular way (correct)
• The prices that are fixed by the government and not by market forces
• The maximum price that a buyer is willing to pay for a good

<p>She should drive as it saves her $10 (A)</p> Signup and view all the answers

<p>The value associated with the last unit of an activity. (C)</p> Signup and view all the answers