1. Two alternative production possibility frontiers for apples and wheat are shown in the figures below. As more wheat is produced，how will the opportunity cost of producing wheat, as represented in Figures1 and 2，be affected?

2. If an effective rent ceiling is eliminated，which of the following is most likely to occur in the rental housing market?

3. Assume that the market for lemonade is perfectly competitive and currently in equilibrium.

Lemons are key ingredients in lemonade. If the price of lemons decreases, how will the lemonade market be affected?

4. When marginal utility is falling but positive，total utility will

5. The zero economic profit in the long run is that reason that firms in perfect competition earn

6. If the output of a firm doubles when the firm doubles all of its inputs，the firm must be experiencing

7. The graph above shows the marginal product (MP) and the average product(AP) of labor for a firm that uses labor as the only variable input and hires its labor in a perfectly competitive market. At which quantity of labor does marginal cost change from decreasing to increasing?

8. A contractor is employing labor and capital to build an office complex. At the current mix of inputs，the marginal product of labor is 30 square feet per day，and the marginal product of capital is 90 square feet per day. The price of labor is $1，000 per day，and the price of capital is $3，000 per day. To hire inputs in a cost—minimizing way，the firm should

9. A single-price monopolist is currently producing in the inelastic portion of its market demand curve.ln order to maximize profits，the monopolist should change the price and output in which of the following ways?

10. Assume that a profit—maximizing，perfectly competitive firm has economic losses in the short run. If the firm continues to produce and sell its goods，then which of the following must be true?