2 Written Questions

1. cost of the next best use of your time or money when you choose to do one thing rather than the other
2. alternative you face if you decide to do one thing rather than the other

2 Multiple Choice Questions

1. additional cost of producing one additional unit of output
   1. Trade-off
   2. Marginal Benefit
   3. Marginal Cost
   4. Opportunity Cost
2. A study that compares the costs and benefits to society of providing a public good
   1. Opportunity Cost
   2. Cost-benefit Analysis
   3. Marginal Benefit
   4. Marginal Cost

1 True/False Question

1. Marginal Benefit → additional cost of producing one additional unit of output

   True        False