Suppose that you are given a $50 budget at work that can be spent only on two items: staplers and pens. If staplers cost $10 each and pens cost $2.50 each, then the opportunity cost of purchasing one stapler is how many pens? Enter your answer as a whole number. 

Refer to the table below.              Quantity Cost (in dollars) Fixed Costs (in dollars) Total Costs (in dollars) Average Total Costs (in dollars per unit) Average Variable Costs (in dollars per unit) Marginal Costs (in dollars per unit) 0 0 40 40 – – – – – – 1 15 40 55 55 15 15 2 35 40 75 37.5 17.5 20 3 60 40 100 33.3 20 25 4 90 40 130 32.5 22.5 30 5 125 40 165 33 25 35 6 160 40 200 33.3 26.6 40   If the firm produces 5 units that it sells for $39.00 each, what will its profits or losses equal?

Refer to the table below.              Quantity Cost (in dollars) Fixed Costs (in dollars) Total Costs (in dollars) Average Total Costs (in dollars per unit) Average Variable Costs (in dollars per unit) Marginal Costs (in dollars per unit) 0 0 40 40 – – – – – – 1 15 40 55 55 15 15 2 35 40 75 37.5 17.5 20 3 60 40 100 33.3 20 25 4 90 40 130 32.5 22.5 30 5 125 40 165 33 25 35 6 160 40 200 33.3 26.6 40   If the firm produces 5 units that it sells for $39.00 each, what will its profits or losses equal?

When a firm is continuing to produce when price is below ATC but above AVC, it is seeking to: 

Read the scenario and enter you answer as a whole number with proper positive/negative annotation.  Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles, and the labels was $700. In addition, it took her 20 hours to make the ketchup, and to do so she took time off from a job that paid her $20 per hour. Linda’s economic profit is?

Tomatoes cost Andy $3.50 per pound, and he has $10.00 that he could possibly spend on tomatoes or other items. Suppose he feels that the first pound of tomatoes is worth $4.00, the second pound is worth $2.78, the third pound is worth $1.05, and all subsequent pounds are worth $0.30 per pound. How many pound of tomatoes will he purchase?  Enter your answer as a whole number.

The slope of the production possibility frontier is determined by the _________ of expanding production of one good, measured by how much of the other good would be lost.  

Enter your answer as a whole number. A firm will maximize revenue at a quantity of:

In order to calculate marginal cost, the change in ______________ is divided by the amount of change in quantity.  

Refer to the graph above. At Point A in the production possibilities graph shown above, the economy: