Deck 1: Exploring Economics

Question 1

Suppose that a store sells candy bars for $0.89 for one and $1.50 for two. The marginal cost of the second candy bar is

A) $0.61.
B) $0.75.
C) $0.89.
D) $1.50.

Answer 1

A

Question 2

(Figure: Graph Interpretation) In the graph, a negative relationship is depicted with a slope of -0.4.

Answer 2

True

Question 3

At an amusement park, Sue achieves an enjoyment value of 10 on her first roller coaster ride and an enjoyment value of 6 on her second ride. Her marginal benefit from her second ride is

A) 4.
B) 6.
C) 8.
D) 16.

Answer 3

B