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Exam (elaborations)
USask - Econ 111 - Mock Midterm I Test Questions and Answers Rated A
NewUSask - Econ 111 - Mock Midterm I Test Questions and Answers Rated A 
Marginal cost is . 
a. the cost of an increase in an activity 
b. equal to marginal benefit 
c. the opportuinity cost of a decrease in an activity 
d. the cost of a decrease in an activity 
e. the total cost of an activity 
A price floor set below the equilibrium price will result in 
. 
a. a shortage 
b. the equilibrium price 
c. an increase in supply 
d. a surplus 
e. a decrease in demand 
When the government of Alberta choo...