This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 1. The output of MP3 players should be: A) reduced if marginal benefits exceed marginal costs. B) reduced if marginal costs exceed marginal benefits. C) increased if marginal costs exceed marginal benefits. D) reduced to zero if their unit costs exceed the unit costs of alternative products. 2. (Last Word) Which of the following best illustrates the post hoc, ergo propter hoc fallacy? A) Because it was 90 degrees today, I worked up a sweat playing tennis. B) I took the day off work to go to the beach and that's why it rained. C) Because it rained at the football game, my new sweater got wet. D) Because I have studied diligently this semester, my grade average has improved. 3. In the figure above are two linear production possibilities curves for countries Alpha and Beta. We can conclude that: A) different value systems make it impossible to compare opportunity costs in the two...
View Full Document
- Spring '10