Refer to Table 1-3. What is Ivan's marginal cost if he decides to stay open for six hours instead of five hours?

Economists consider profit to be

A) a cost of producing goods and services. B) something that should be eliminated by antitrust laws. C) the same as a salary. D) a reward for incurring losses.

According to the Lucas critique, changes in economic policy are likely to have important effects on

A) the available amounts of natural resources. B) the behavior of consumers and firms. C) the preferences of consumers. D) none of the above