Unit Test — Unit test Answers
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Which best describes how consumers may benefit from specialization?
A
Consumers can only purchase high-quality goods.B
Consumers have more price options.C
Consumers receive more sale offers.D
Consumers find products at lower prices.22
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What is the best definition of marginal benefit?
A
the possible income from producing an additional itemB
the price of producing one additional unit of a goodC
the additional income gained from selling an additional goodD
the financial gain from business activity minus expenses23
To generate higher profits, producers must work to
A
increase their total supply.B
increase their total expenses.C
decrease their customer base.D
decrease their production costs.24
Producers must understand the marginal benefit of making an additional unit, which shows the
A
actual gain.B
eventual gain.C
possible gain.D
unlikely gain.25
The graph shows the marginal cost of producing soccer cleats for Sabrina’s Soccer. At which level of production does the company make the least profit?
A
the first pair of cleatsB
the second pair of cleatsC
the third pair of cleatsD
the fourth pair of cleatsDid you find these answers helpful?
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