C13 Microeconomics Online Exams 1-8 Answers (Ashworth College)

earned total revenues of $75,000. Your costs for equipment, rent, and supplies were $10,000. To
start this business you quit a job at another computer software firm that paid $40,000 a year.
During the year, your economic costs were __________ .
A.
$10,000
B. $40,000
C. $50,000
D.
$75,000
Question 32 of
2.5/ 2.5 Points
40
Marginal utility is the __________ .
A. total amount of satisfaction gained by the consumption of a good or service
B. additional satisfaction gained by the consumption or use of one more unit of
something
C. price of a good relative to the prices of other goods and services
D. comparison of utility between two different people
Question 33 of
2.5/ 2.5 Points
40
Sarah has a savings account with a $1,000 balance that earns 3% APY. She decides to withdraw
the entire balance to buy a laptop computer. What will be her opportunity cost in buying the
laptop?
A. the cost of the laptop
B. the foregone interest