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The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public good. This economy has 3 individuals, A, B and C. The diagram shows the MB for each individual and a summation of their marginal benefits.

Short description: A graph plots quantity against marginal benefit, marginal cost. Long description: The horizontal axis representing quantity ranges from Q subscript 1 to Q subscript 4. The vertical axis represents a marginal benefit, marginal cost ranges from P subscript 1 to P subscript 4. The graph plots four lines. A line representing MC passes through the following points: (Q subscript 1, P subscript 1), (Q subscript 2, P subscript 2), (Q subscript 3, P subscript 3), and (Q subscript 4, P subscript 4). Three parallel lines, MB subscript A, MB subscript B, and MB subscript C intersect the line, MC at points, (Q subscript 1, P subscript 1), (Q subscript 2, P subscript 2), and (Q subscript 3, P subscript 3). The line representing M B subscript A B C intersects the line, MC at point (Q subscript 4, P subscript 4).

FIGURE 16-4

Refer to Figure 16-4. Suppose the government provides Q4 units of the public good. If consumers were then required to pay a price of zero for the good,



▸ the market would clear, although not enough would be produced.

▸ the inefficient quantity would be being produced.

▸ the appropriate price would be achieved, although not enough would be consumed.

▸ consumers would use too little of the public good, and the outcome would be inefficient for society.

▸ consumers would use the public good until their marginal benefit was zero, and this would be socially optimal.
Over the past four decades, Canada's non-residential capital stock has increased at an average annual growth rate of approximately ________%.

▸ 12.4

▸ 15.0

▸ 6.0

▸ 2.6

▸ 9.5
Consider labour that is hired for $18 per hour. If the last hour of labour hired produces 8 units of output which sells for $10 per unit, that labour-hour's marginal revenue product is

▸ $4.44.

▸ $144.

▸ $80.

▸ $1.20.

▸ $64.

The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC curves refer to different plant sizes.

Short description: A graph plots output against cost. Long description: The horizontal axis represents output. The vertical axis represents the cost. The graph plots four U-shaped curves. A large U-shaped curve representing LRAC passes through the points, A, C, E, and F. Vertical dashed lines are extended from A, C, E, a point, and F to meet the horizontal axis at Q subscript 1, Q subscript 2, Q subscript 3, Q subscript 4, and Q subscript 5. It encloses three small U-shaped curves. The first curve on the left represents SRATC subscript 1 and it intersects the large curve at A and passes through a point, B. The second curve at the center represents SRATC subscript 2 and it intersects the large curve at E. It also intersects the first curve at a point and it passes through a point, D. The third curve on the right represents SRATC subscript 3 and it intersects the large curve at F. It also intersects the second curve at a point.

FIGURE 8-2

Refer to Figure 8-2. Should this profit-maximizing firm ever consider moving from point E (output level Q3 on SRATC2) to point F (output level Q5 on SRATC3)?



▸ Yes, because the firm can take advantage of economies of scale.

▸ Yes, because SRATC3 is the optimal plant size for this firm.

▸ No, because they are already producing at their lowest possible cost at point E.

▸ Yes, if the product price rises enough to lead the firm to expand to plant size 3.

▸ No, because producing at point F implies a higher cost per unit of output.


Short description: A graph plots unit of a good against the total utility. Long description: The horizontal axis representing the unit of a good ranges from 0 to 6, in increments of 1. The vertical axis representing total utility ranges from 0 to 110, in increments of 10. The graph shows a curve that passes through the following points: (0, 0), (1, 60), (2, 80), (3, 92), (4, 98), and (5, 100). Note: all values are approximate.

FIGURE 6-1

Refer to Figure 6-1. Marginal utility is zero when total utility is



▸ equal to zero.

▸ is decreasing.

▸ at its maximum.

▸ is increasing.

▸ equal to marginal utility.

The diagram below shows the market for some agricultural product, X.

Short description: A graph plots the quantity of X against the price of X. Long description: The horizontal axis representing the quantity of X in units per week ranges from 300 to 1800, in increments of 300. The vertical axis representing the price of X in dollars ranges from 1.00 to 6.00, in increments of 1.00. The graph plots two lines. A decreasing line representing D passes through the following points: (300, 5.00), (600, 4.00), (900, 3.00), (1200, 2.00), and (1500, 1.00). An increasing line representing S passes through the following points: (300, 1.00), (600, 2.00), (900, 3.00), (1200, 4.00), and (1500, 5.00). The two lines intersect at (900, 3.00).  Note: All values are approximate.

FIGURE 5-8

Refer to Figure 5-8. Assume the market for product X is at its free-market equilibrium. What is the weekly amount of economic surplus in this market?



▸ $900

▸ $1800

▸ $450

▸ $2700

▸ $5400
Tickets for music concerts that are sold on the Internet are often sold out within minutes and many unsatisfied customers are unable to get tickets (in the legitimate market). One explanation for this is that

▸ concert goers are not rational.

▸ the market price for concert tickets may be set above its equilibrium price.

▸ the market price for concert tickets may be set below its equilibrium price.

▸ the market price for concert tickets is at its equilibrium level.

▸ prices for purchasing digital music have increased.
Antilipemic drug therapy is prescribed for a patient, and the nurse is providing instructions to the patient about the medication. Which instructions will the nurse include? (Select all that apply.)


▸ Limit fluid intake to prevent fluid overload.

▸ Eat extra servings of raw vegetables and fruit.

▸ Report abnormal or unusual bleeding or yellow discoloration of the skin.

▸ Report the occurrence of muscle pain immediately.

▸ Drug interactions are rare with antilipemics.

▸ Take the drug 1 hour before or 2 hours after meals to maximize absorption.
The nurse will monitor for myopathy (muscle pain) when a patient is taking which class of antilipemic drugs?


▸ Niacin

▸ HMG–CoA reductase inhibitors

▸ Fibric acid derivatives

▸ Bile acid sequestrants
When evaluating a patient who is taking orlistat (Xenical), which is an intended therapeutic effect?


▸ Increased wakefulness

▸ Increased appetite

▸ Decreased weight

▸ Decreased hyperactivity
Identify several factors that a therapist must consider when assessing the likelihood that a client will be successful in therapy. Explain how cultural considerations factor into your answer.
Which of the following types of drugs are used to treat generalized anxiety disorder, panic disorder, and phobias?

▸ Monoamine oxidase inhibitors (MAOIs)

▸ Benzodiazepines

▸ Selective serotonin reuptake inhibitors (SSRIs)

▸ Tricyclics
With respect to cultural influences on stress and coping, your textbook suggests that people from Asian cultures see stress as __________, whereas those from Western cultures see it as __________.

▸ external; external, too

▸ external; internal

▸ internal; external

▸ internal; internal, too
The nurse is reviewing a list of scheduled drugs and notes that Schedule C-I drugs are not on the list. Which is a characteristic of Schedule C-I drugs?


▸ No refills are permitted.

▸ They may be obtained over-the-counter with a signature.

▸ They are available only by written prescription.

▸ They are used only with approved protocols.
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