Lec 3 Questions

Lec 3 Questions - One half of a waxed car 3 Many corporations provide their CEOs with a personal assistant who accomplishes both business and

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 101 Class 3 Questions 1. On Saturday morning, you have decided to wash, wax, and detail your car. The improvements to your car’s appearance are worth $50 to you. You have decided to do the work yourself because the next best use of your time is working a morning shift at your job for $30. Now a friend suggests a fun outing that will take all morning. Your opportunity cost for that outing is… A. $0 B. $20 C. $30 D. $50** 2. In one eight hour work day, Sam can wax 4 cars or wash 12 cars. Ari can wax 3 cars or wash 6 cars. Which of the following is true? Sam’s cost of washing one car is … A. Greater than Ari’s Cost of washing a car. B. One third of a waxed car. ** C. Three waxed cars. D.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: One half of a waxed car. 3. Many corporations provide their CEOs with a personal assistant who accomplishes both business and personal tasks. Which of the following is closest to your view? Shareholders should… A. Oppose the practice because it lowers firm profits and shareholder dividends. B. Oppose the practice but acknowledge that CEOs expect to have a personal assistant. C. Approve the practice because it amounts to tax free compensation for the CEO. D. Approve the practice because it frees the CEO to perform more important tasks. 4. Which survivor should be the first assigned to pick berries? Jean Joe Jerry Jack Fish (lbs) 4 3 2 1 Berries (lbs) 1 2 3 4 A. Jean B. Joe C. Jerry D. Jack **...
View Full Document

This note was uploaded on 03/02/2009 for the course ECON 101 taught by Professor Balaban during the Spring '07 term at UNC.

Ask a homework question - tutors are online