Chapters 14, 15, 16, 17, 18, 19, 11, and 21
Chapters 14, 15, 16, 17, 18, 19, 11, and 21
1) In perfect competition, the marginal revenue curve A) and the demand curve facing the firm are identical. B) is always above the demand curve facing the firm. C)is always below the demand curve facing the firm. D)intersects the demand curve when marginal revenue is minimized.
1) In perfect competition, the marginal revenue curve A) and the demand curve facing the firm are identical. B) is always above the demand curve facing the firm. C)is always below the demand curve facing the firm. D)intersects the demand curve when marginal revenue is minimized.
2) If a firm is producing where MR > MC, A) the revenue gained by producing one more unit of output exceeds the cost incurred by doing so. B) the revenue gained by producing one more unit of output equals the cost incurred by doing so. C) the revenue gained by producing one more unit of output is less than the cost incurred by doing so. D) the firm is already maximizing profits since revenue is being increased by more than costs.
2) If a firm is producing where MR > MC, A) the revenue gained by producing one more unit of output exceeds the cost incurred by doing so. B) the revenue gained by producing one more unit of output equals the cost incurred by doing so. C) the revenue gained by producing one more unit of output is less than the cost incurred by doing so. D) the firm is already maximizing profits since revenue is being increased by more than costs.
3) A firm in a perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is $2 and total fixed costs and total variable costs are $25 and $40, respectively. The firm's economic profit is A) $15. B) $30. C)$35. D)$60.
3) A firm in a perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is $2 and total fixed costs and total variable costs are $25 and $40, respectively. The firm's economic profit is A) $15. B) $30. C)$35. D)$60.
Number of Fruit Baskets 0 1 2 3 4 5 6 4)
A) B) C) D)
TFC $50 50 50 50 50 50 50
TVC $0 10 15 21 31 46 68
TC $50 60 65 71 81 96 118
MC -10 5 6 10 15 22
Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $10. To maximize profits, Exotic Fruit should sell ____ fruit basket(s). zero one four either one or four
Number of Fruit Baskets 0 1 2 3 4 5 6 4)
A) B) C) D)
TFC $50 50 50 50 50 50 50
TVC $0 10 15 21 31 46 68
TC $50 60 65 71 81 96 118
MC -10 5 6 10 15 22
Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $10. To maximize profits, Exotic Fruit should sell ____ fruit basket(s). zero one four either one or four
5) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm will produce how many units of output? A) zero; price is too low B) 50 C) 10 D) 5.
5) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm will produce how many units of output? A) zero; price is too low B) 50 C) 10 D) 5.
6) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm’s profit is A) $250 B) $115 C) $135 D) $0.
6) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm’s profit is A) $250 B) $115 C) $135 D) $0.
7) If a firm is maximizing profit when its marginal cost is $25, A) price must be greater than the firm’s average total cost B) marginal revenue is at a maximum C) average variable cost must be $25 D) average revenue must be $25.
7) If a firm is maximizing profit when its marginal cost is $25, A) price must be greater than the firm’s average total cost B) marginal revenue is at a maximum C) average variable cost must be $25 D) average revenue must be $25.
8)
An increase in the number of firms will cause which of the following? A) No change in the industry supply curve and an outward shift in the firm's supply curve. B) The industry supply curve will shift to the right and the firm's supply curve will be unchanged. C)Both the industry supply curve and the firm's supply curve will shift to the right. D)Neither the industry supply curve nor the firm's supply curve will shift.
8)
An increase in the number of firms will cause which of the following? A) No change in the industry supply curve and an outward shift in the firm's supply curve. B) The industry supply curve will shift to the right and the firm's supply curve will be unchanged. C)Both the industry supply curve and the firm's supply curve will shift to the right. D)Neither the industry supply curve nor the firm's supply curve will shift.
9) A natural monopoly exists when A) the government protects the firm by granting an exclusive franchise. B) the average total cost curve is upward sloping. C) there are no rivals in the market. D) one firm can supply the entire market and be the most efficient plant size. E) production can take place with constant returns to scale.
9) A natural monopoly exists when A) the government protects the firm by granting an exclusive franchise. B) the average total cost curve is upward sloping. C) there are no rivals in the market. D) one firm can supply the entire market and be the most efficient plant size. E) production can take place with constant returns to scale.
10) For the monopolist facing a downwardsloping demand curve, the marginal revenue never exceeds the price because the A) producers of substitutes keep the price low. B) monopolist has a low marginal cost relative to a competitive firm. C) monopolist must lower the price in order to sell more during any given period of time. D) monopoly will be a large corporation with high fixed costs. E) monopolist must accept the marginal revenue set by the market as a whole.
10) For the monopolist facing a downwardsloping demand curve, the marginal revenue never exceeds the price because the A) producers of substitutes keep the price low. B) monopolist has a low marginal cost relative to a competitive firm. C) monopolist must lower the price in order to sell more during any given period of time. D) monopoly will be a large corporation with high fixed costs. E) monopolist must accept the marginal revenue set by the market as a whole.
11) The monopolist will maximize the profit of the firm by A) setting the price equal to the marginal cost of production. B) producing the quantity where marginal revenue equals price. C) charging a price that is as high as the market can bear. D) producing the quantity where the marginal cost equals the price charged. E) producing the quantity where the marginal revenue equals the marginal cost, and then selling that output for as high a price as the market can bear.
11) The monopolist will maximize the profit of the firm by A) setting the price equal to the marginal cost of production. B) producing the quantity where marginal revenue equals price. C) charging a price that is as high as the market can bear. D) producing the quantity where the marginal cost equals the price charged. E) producing the quantity where the marginal revenue equals the marginal cost, and then selling that output for as high a price as the market can bear.
12) What is the profit-maximizing output level for this monopolist? A) 6 units per day. B) 4 units per day. C) 8 units per day. D) 2 units per day. E) 1 unit per day.
12) What is the profit-maximizing output level for this monopolist? A) 6 units per day. B) 4 units per day. C) 8 units per day. D) 2 units per day. E) 1 unit per day.
13) What price will the monopolist charge in order to maximize profit? A) $5. B) $7.50. C) $7. D) $6. E) $10.
13) What price will the monopolist charge in order to maximize profit? A) $5. B) $7.50. C) $7. D) $6. E) $10.
14) The total profit for this monopolist is A) $1. B) $4. C) $5. D) $0. E) impossible to compute without more information concerning the fixed costs.
14) The total profit for this monopolist is A) $1. B) $4. C) $5. D) $0. E) impossible to compute without more information concerning the fixed costs.
15) The deadweight loss is approximately A) $2.50 B) $3. C) $1.25 D) $2.00 E) $3.25.
15) The deadweight loss is approximately A) $2.50 B) $3. C) $1.25 D) $2.00 E) $3.25.
16) A Nash equilibrium occurs when A) you cooperate until the other player cheats, and then you cheat forever. B) each player complies with the collusive agreement. C) each player takes the best possible action given the other player's action. D) there is a clear strategy for each player independent of the other player's actions. E) none of the above.
16) A Nash equilibrium occurs when A) you cooperate until the other player cheats, and then you cheat forever. B) each player complies with the collusive agreement. C) each player takes the best possible action given the other player's action. D) there is a clear strategy for each player independent of the other player's actions. E) none of the above.
17) In the language of game theory, "prisoners' dilemma" describes a case where A) collusion of the participants leads to the best solution but is impossible in this situation. B) a prisoner has no incentive to confess to his crime, and hence stands a greater chance of not going to prison. C) rivalry among a large number of rivals leads to lower overall profit. D) rivalry of the participants leads to a suboptimal solution for both prisoners. E) both A and D.
17) In the language of game theory, "prisoners' dilemma" describes a case where A) collusion of the participants leads to the best solution but is impossible in this situation. B) a prisoner has no incentive to confess to his crime, and hence stands a greater chance of not going to prison. C) rivalry among a large number of rivals leads to lower overall profit. D) rivalry of the participants leads to a suboptimal solution for both prisoners. E) both A and D.
18) For a firm wishing to maximize profit, labour should be hired until A) the wage rate paid to the labour equals the marginal cost of production. B) the wage rate equals the value of the marginal product of labour. C) the additional cost of hiring the labour is equal to the additional revenue the labour generates. D) both A and B. E) both B and C.
18) For a firm wishing to maximize profit, labour should be hired until A) the wage rate paid to the labour equals the marginal cost of production. B) the wage rate equals the value of the marginal product of labour. C) the additional cost of hiring the labour is equal to the additional revenue the labour generates. D) both A and B. E) both B and C.
19) The present value of $100 to be received at the end of one year, with an interest rate of 6 percent, is A) $94.00. B) $94.34. C) $95.27. D) $102.13. E) $106.00.
19) The present value of $100 to be received at the end of one year, with an interest rate of 6 percent, is A) $94.00. B) $94.34. C) $95.27. D) $102.13. E) $106.00.
20) Suppose a piece of capital will produce a VMPK of $100 000 per year for the next three years (beginning one year from now). What is the maximum price a firm will pay to purchase it if the interest rate is 12 percent? A) $71 178 B) $213 534 C) $240 183 D) $243 460 E) $267 857
20) Suppose a piece of capital will produce a VMPK of $100 000 per year for the next three years (beginning one year from now). What is the maximum price a firm will pay to purchase it if the interest rate is 12 percent? A) $71 178 B) $213 534 C) $240 183 D) $243 460 E) $267 857
21) A free-rider is a person who A) will only purchase a product on sale. B) receives the benefit of a good but avoids paying for it. C) can produce a good at no cost. D) takes advantage of tax loop-holes to lower her taxes.
21) A free-rider is a person who A) will only purchase a product on sale. B) receives the benefit of a good but avoids paying for it. C) can produce a good at no cost. D) takes advantage of tax loop-holes to lower her taxes.
22) If one person’s use of a good diminishes another person’s enjoyment of it, the good is A) rival. B) excludable. C) normal. D) exhaustible.
22) If one person’s use of a good diminishes another person’s enjoyment of it, the good is A) rival. B) excludable. C) normal. D) exhaustible.
23) One way to eliminate the Tragedy of the Commons is to A) increase law enforcement in public areas. B) limit access to the commons. C) increase access to the commons. D) provide more public land for recreation.
23) One way to eliminate the Tragedy of the Commons is to A) increase law enforcement in public areas. B) limit access to the commons. C) increase access to the commons. D) provide more public land for recreation.
24) The utility-maximizing rule can be stated in words in the following way: A person will maximize utility when the A) total utility per dollar spent is the same for all products. B) marginal utility is the same for all products. C) total utility is the same for all products. D) marginal utility per dollar spent is the same for all products. E) both B and C.
24) The utility-maximizing rule can be stated in words in the following way: A person will maximize utility when the A) total utility per dollar spent is the same for all products. B) marginal utility is the same for all products. C) total utility is the same for all products. D) marginal utility per dollar spent is the same for all products. E) both B and C.
25) George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per gallon and he consumes it to the point where the marginal utility he receives from milk is 4. Cookies cost $8 per bag and the relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows: Bags of Cookies 1
2
3
4
5
6
20
16
12
8
4
0
Marginal Utility
How many bags of cookies does George buy? A) 1 B) 2 C) 3 D) 4
25) George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per gallon and he consumes it to the point where the marginal utility he receives from milk is 4. Cookies cost $8 per bag and the relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows: Bags of Cookies 1
2
3
4
5
6
20
16
12
8
4
0
Marginal Utility
How many bags of cookies does George buy? A) 1 B) 2 C) 3 D) 4
1) In perfect competition, the marginal revenue curve A) and the demand curve facing the firm are identical. B) is always above the demand curve facing the firm. C)is always below the demand curve facing the firm. D)intersects the demand curve when marginal revenue is minimized.
1) In perfect competition, the marginal revenue curve A) and the demand curve facing the firm are identical. B) is always above the demand curve facing the firm. C)is always below the demand curve facing the firm. D)intersects the demand curve when marginal revenue is minimized.
2) If a firm is producing where MR > MC, A) the revenue gained by producing one more unit of output exceeds the cost incurred by doing so. B) the revenue gained by producing one more unit of output equals the cost incurred by doing so. C) the revenue gained by producing one more unit of output is less than the cost incurred by doing so. D) the firm is already maximizing profits since revenue is being increased by more than costs.
2) If a firm is producing where MR > MC, A) the revenue gained by producing one more unit of output exceeds the cost incurred by doing so. B) the revenue gained by producing one more unit of output equals the cost incurred by doing so. C) the revenue gained by producing one more unit of output is less than the cost incurred by doing so. D) the firm is already maximizing profits since revenue is being increased by more than costs.
3) A firm in a perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is $2 and total fixed costs and total variable costs are $25 and $40, respectively. The firm's economic profit is A) $15. B) $30. C)$35. D)$60.
3) A firm in a perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is $2 and total fixed costs and total variable costs are $25 and $40, respectively. The firm's economic profit is A) $15. B) $30. C)$35. D)$60.
Number of Fruit Baskets 0 1 2 3 4 5 6 4)
A) B) C) D)
TFC $50 50 50 50 50 50 50
TVC $0 10 15 21 31 46 68
TC $50 60 65 71 81 96 118
MC -10 5 6 10 15 22
Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $10. To maximize profits, Exotic Fruit should sell ____ fruit basket(s). zero one four either one or four
Number of Fruit Baskets 0 1 2 3 4 5 6 4)
A) B) C) D)
TFC $50 50 50 50 50 50 50
TVC $0 10 15 21 31 46 68
TC $50 60 65 71 81 96 118
MC -10 5 6 10 15 22
Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $10. To maximize profits, Exotic Fruit should sell ____ fruit basket(s). zero one four either one or four
5) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm will produce how many units of output? A) zero; price is too low B) 50 C) 10 D) 5.
5) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm will produce how many units of output? A) zero; price is too low B) 50 C) 10 D) 5.
6) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm’s profit is A) $250 B) $115 C) $135 D) $0.
6) A perfectly competitive firm faces total costs TC = 10 + 5Q2. Its marginal costs are MC = 10Q. If the market price is P = $50, the firm’s profit is A) $250 B) $115 C) $135 D) $0.
7) If a firm is maximizing profit when its marginal cost is $25, A) price must be greater than the firm’s average total cost B) marginal revenue is at a maximum C) average variable cost must be $25 D) average revenue must be $25.
7) If a firm is maximizing profit when its marginal cost is $25, A) price must be greater than the firm’s average total cost B) marginal revenue is at a maximum C) average variable cost must be $25 D) average revenue must be $25.
8)
An increase in the number of firms will cause which of the following? A) No change in the industry supply curve and an outward shift in the firm's supply curve. B) The industry supply curve will shift to the right and the firm's supply curve will be unchanged. C)Both the industry supply curve and the firm's supply curve will shift to the right. D)Neither the industry supply curve nor the firm's supply curve will shift.
8)
An increase in the number of firms will cause which of the following? A) No change in the industry supply curve and an outward shift in the firm's supply curve. B) The industry supply curve will shift to the right and the firm's supply curve will be unchanged. C)Both the industry supply curve and the firm's supply curve will shift to the right. D)Neither the industry supply curve nor the firm's supply curve will shift.
9) A natural monopoly exists when A) the government protects the firm by granting an exclusive franchise. B) the average total cost curve is upward sloping. C) there are no rivals in the market. D) one firm can supply the entire market and be the most efficient plant size. E) production can take place with constant returns to scale.
9) A natural monopoly exists when A) the government protects the firm by granting an exclusive franchise. B) the average total cost curve is upward sloping. C) there are no rivals in the market. D) one firm can supply the entire market and be the most efficient plant size. E) production can take place with constant returns to scale.
10) For the monopolist facing a downwardsloping demand curve, the marginal revenue never exceeds the price because the A) producers of substitutes keep the price low. B) monopolist has a low marginal cost relative to a competitive firm. C) monopolist must lower the price in order to sell more during any given period of time. D) monopoly will be a large corporation with high fixed costs. E) monopolist must accept the marginal revenue set by the market as a whole.
10) For the monopolist facing a downwardsloping demand curve, the marginal revenue never exceeds the price because the A) producers of substitutes keep the price low. B) monopolist has a low marginal cost relative to a competitive firm. C) monopolist must lower the price in order to sell more during any given period of time. D) monopoly will be a large corporation with high fixed costs. E) monopolist must accept the marginal revenue set by the market as a whole.
11) The monopolist will maximize the profit of the firm by A) setting the price equal to the marginal cost of production. B) producing the quantity where marginal revenue equals price. C) charging a price that is as high as the market can bear. D) producing the quantity where the marginal cost equals the price charged. E) producing the quantity where the marginal revenue equals the marginal cost, and then selling that output for as high a price as the market can bear.
11) The monopolist will maximize the profit of the firm by A) setting the price equal to the marginal cost of production. B) producing the quantity where marginal revenue equals price. C) charging a price that is as high as the market can bear. D) producing the quantity where the marginal cost equals the price charged. E) producing the quantity where the marginal revenue equals the marginal cost, and then selling that output for as high a price as the market can bear.
12) What is the profit-maximizing output level for this monopolist? A) 6 units per day. B) 4 units per day. C) 8 units per day. D) 2 units per day. E) 1 unit per day.
12) What is the profit-maximizing output level for this monopolist? A) 6 units per day. B) 4 units per day. C) 8 units per day. D) 2 units per day. E) 1 unit per day.
13) What price will the monopolist charge in order to maximize profit? A) $5. B) $7.50. C) $7. D) $6. E) $10.
13) What price will the monopolist charge in order to maximize profit? A) $5. B) $7.50. C) $7. D) $6. E) $10.
14) The total profit for this monopolist is A) $1. B) $4. C) $5. D) $0. E) impossible to compute without more information concerning the fixed costs.
14) The total profit for this monopolist is A) $1. B) $4. C) $5. D) $0. E) impossible to compute without more information concerning the fixed costs.
15) The deadweight loss is approximately A) $2.50 B) $3. C) $1.25 D) $2.00 E) $3.25.
15) The deadweight loss is approximately A) $2.50 B) $3. C) $1.25 D) $2.00 E) $3.25.
16) A Nash equilibrium occurs when A) you cooperate until the other player cheats, and then you cheat forever. B) each player complies with the collusive agreement. C) each player takes the best possible action given the other player's action. D) there is a clear strategy for each player independent of the other player's actions. E) none of the above.
16) A Nash equilibrium occurs when A) you cooperate until the other player cheats, and then you cheat forever. B) each player complies with the collusive agreement. C) each player takes the best possible action given the other player's action. D) there is a clear strategy for each player independent of the other player's actions. E) none of the above.
17) In the language of game theory, "prisoners' dilemma" describes a case where A) collusion of the participants leads to the best solution but is impossible in this situation. B) a prisoner has no incentive to confess to his crime, and hence stands a greater chance of not going to prison. C) rivalry among a large number of rivals leads to lower overall profit. D) rivalry of the participants leads to a suboptimal solution for both prisoners. E) both A and D.
17) In the language of game theory, "prisoners' dilemma" describes a case where A) collusion of the participants leads to the best solution but is impossible in this situation. B) a prisoner has no incentive to confess to his crime, and hence stands a greater chance of not going to prison. C) rivalry among a large number of rivals leads to lower overall profit. D) rivalry of the participants leads to a suboptimal solution for both prisoners. E) both A and D.
18) For a firm wishing to maximize profit, labour should be hired until A) the wage rate paid to the labour equals the marginal cost of production. B) the wage rate equals the value of the marginal product of labour. C) the additional cost of hiring the labour is equal to the additional revenue the labour generates. D) both A and B. E) both B and C.
18) For a firm wishing to maximize profit, labour should be hired until A) the wage rate paid to the labour equals the marginal cost of production. B) the wage rate equals the value of the marginal product of labour. C) the additional cost of hiring the labour is equal to the additional revenue the labour generates. D) both A and B. E) both B and C.
19) The present value of $100 to be received at the end of one year, with an interest rate of 6 percent, is A) $94.00. B) $94.34. C) $95.27. D) $102.13. E) $106.00.
19) The present value of $100 to be received at the end of one year, with an interest rate of 6 percent, is A) $94.00. B) $94.34. C) $95.27. D) $102.13. E) $106.00.
20) Suppose a piece of capital will produce a VMPK of $100 000 per year for the next three years (beginning one year from now). What is the maximum price a firm will pay to purchase it if the interest rate is 12 percent? A) $71 178 B) $213 534 C) $240 183 D) $243 460 E) $267 857
20) Suppose a piece of capital will produce a VMPK of $100 000 per year for the next three years (beginning one year from now). What is the maximum price a firm will pay to purchase it if the interest rate is 12 percent? A) $71 178 B) $213 534 C) $240 183 D) $243 460 E) $267 857
21) A free-rider is a person who A) will only purchase a product on sale. B) receives the benefit of a good but avoids paying for it. C) can produce a good at no cost. D) takes advantage of tax loop-holes to lower her taxes.
21) A free-rider is a person who A) will only purchase a product on sale. B) receives the benefit of a good but avoids paying for it. C) can produce a good at no cost. D) takes advantage of tax loop-holes to lower her taxes.
22) If one person’s use of a good diminishes another person’s enjoyment of it, the good is A) rival. B) excludable. C) normal. D) exhaustible.
22) If one person’s use of a good diminishes another person’s enjoyment of it, the good is A) rival. B) excludable. C) normal. D) exhaustible.
23) One way to eliminate the Tragedy of the Commons is to A) increase law enforcement in public areas. B) limit access to the commons. C) increase access to the commons. D) provide more public land for recreation.
23) One way to eliminate the Tragedy of the Commons is to A) increase law enforcement in public areas. B) limit access to the commons. C) increase access to the commons. D) provide more public land for recreation.
24) The utility-maximizing rule can be stated in words in the following way: A person will maximize utility when the A) total utility per dollar spent is the same for all products. B) marginal utility is the same for all products. C) total utility is the same for all products. D) marginal utility per dollar spent is the same for all products. E) both B and C.
24) The utility-maximizing rule can be stated in words in the following way: A person will maximize utility when the A) total utility per dollar spent is the same for all products. B) marginal utility is the same for all products. C) total utility is the same for all products. D) marginal utility per dollar spent is the same for all products. E) both B and C.
25) George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per gallon and he consumes it to the point where the marginal utility he receives from milk is 4. Cookies cost $8 per bag and the relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows: Bags of Cookies 1
2
3
4
5
6
20
16
12
8
4
0
Marginal Utility
How many bags of cookies does George buy? A) 1 B) 2 C) 3 D) 4
25) George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per gallon and he consumes it to the point where the marginal utility he receives from milk is 4. Cookies cost $8 per bag and the relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows: Bags of Cookies 1
2
3
4
5
6
20
16
12
8
4
0
Marginal Utility
How many bags of cookies does George buy? A) 1 B) 2 C) 3 D) 4
