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</p> Signup and view all the answers

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