There is an influenza epidemic at Sally's office. If she got the flu shot this winter, how does this affect her decision of going to work or working from home?
a. She would choose to work from home since the marginal cost of going to the office is high
b. She would choose to go to work since the marginal benefit of working from home is too low
c. She would stay home since the marginal cost of going to work so is too low
d. She would stay home-who wants to go to work
b
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When evaluating differences or similarities between an increase in supply and an increase in quantity supplied, what do we know?
a) The former is a shift of the curve and the latter is a movement along the curve b) The former is a movement along the curve and the latter is a shift of the curve c) Both are shifts of the supply curve d) Both are movements along the curve
In the figure above, if the firm is regulated using an average cost pricing rule, the consumer surplus created is equal to the area of
A) ABG. B) BEFG. C) BCFG. D) BCE. E) None of the above because there is no consumer surplus created.