Kane just lost her job as a dock worker. Her former salary was $750 per week. She receives $350 in unemployment insurance while she is actively looking for a new job. She sees a job she is qualified for that pays $600 per week. What is the opportunity cost per week of remaining unemployed?

Farmer John can produce as much corn as he wants at the going price of $48 per bushel. At his current production level, the marginal cost is $18 . What should the company do?

a. Increase production b. Decrease production c. Stay at this level of production d. None of the above

There are several criticisms of the minimum wage. Which of the following is not one of those criticisms? The minimum wage

a. often hurts those people who it is intended to help. b. results in an excess supply of low-skilled labor. c. prevents some unskilled workers from getting needed on-the-job training. d. fails to raise the wage of any employed person.