If consumption is $60,000 when income is $80,000, and consumption increases to $68,000 when income increases to $90,000, the MPC is

The winner in a first-price sealed-bid auction pays an amount equal to ________

A) his bid B) the second-highest bid C) half of his bid D) the lowest bid

Refer to Figure 2-6. If the economy is currently producing at point C, what is the opportunity cost of moving to point B?

A) 13 thousand hammers B) 30 thousand wrenches C) 23 thousand hammers D) 10 thousand wrenches