After purchasing a coffee cup from your local gas station for $5.00, you can always refill your cup for $0.50. The marginal cost of your 10th cup of coffee purchased at the gas station is:

Which of the following statements about agriculture in the U.S. is correct?

a. Technological improvements typically increase both supply and revenue for individual farmers. b. Technological improvements that increased supply, coupled with inelastic demand for foodstuffs, explain why the number of farmers has decreased dramatically over the last century. c. Because technological improvements increase the supply of a product for which demand is inelastic, an individual farmer would be better off not adopting the new technology. d. All of the above are correct.

The price paid by buyers in a market will decrease if the government

a. increases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. All of the above are correct.