Which of the following is an example of a less-than-highly-organized market（）
A. the market for U.S. Treasury bonds
B. the market for corn
C. the market for soybeans
D. the market for ice cream
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The two words most often used by economists are（）
A. prices and quantities
B. resources and allocation
C. supply and demand
D. efficiency and equity
In general, elasticity is a measure of（）
A. the extent to which advances in technology are adopted by producers
B. the extent to which a market is competitive
C. how firms’ profits respond to changes in market prices
D. how much buyers and sellers respond to changes in market conditions
When computing the opportunity cost of attending a basketball game you should include（）
A. the price you pay for the ticket and the value of your time
B. the price you pay for the ticket, but not the value of your time
C. the value of your time, but not the price you pay for the ticket
D. neither the price of the ticket nor the value of your time
Suppose the cost of flying a 100seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The average cost per seat is（）
A. $50
B. $500
C. $50,000
D. This cannot be determined from the information given
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