Allocating kidneys to those with the highest net benefit (where net benefit is measured as the expected increase in life span from a transplant) is an attempt to maximize A. consumer surplus. B. producer surplus. C. profit. D. equity E. respect for elders.

Which of the following leads to a more inelastic price elasticity of supply? I. the use of inputs that are easily obtained II. a high degree of substitutability between inputs III. a shorter time period in which to supply the good A. I only B. II only C. III only D. I and II only E. I, II, and III

If the cross-price elasticity between two goods is negative, this means that the two goods are A. substitutes. B. complements. C. normal. D. inferior. E. luxuries.

Which of the following is true if the price elasticity of demand for a good is zero? A. The slope of the demand curve is zero. B. The slope of the demand curve is one. C. The demand curve is vertical D. The demand curve is horizontal. E. The price of the good is high.

If a 2% change in the price of a good leads to a 10% change in the quantity demanded of a good, what is the price elasticity of demand? A. 0.02 B. 0.2 C. 5 D. 10 E. 20

Use the market represented in Figure 5P-2 to draw the consumer surplus when the price is $\$ 5$. What is the value of consumer surplus at this price?

Solve each system of equations. Check your answers.

$$\left\{\begin{aligned} x+y+z &=4 \\ 4 x+5 y \quad \quad &=3 \\ \quad \quad y-3 z &=-10 \end{aligned}\right.$$

$$\text { Find } \partial f / \partial x \text { and } \partial f / \partial y.$$

$$f ( x , y ) = \sqrt { x ^ { 2 } + y ^ { 2 } }$$

Verify each identity.

$$\tan \frac { \alpha } { 2 } = \frac { \tan \alpha } { \sec \alpha + 1 }$$

Draw a correctly labeled graph showing the market for cups of coffee in equilibrium. On your graph, show the effect of a decrease in the price of coffee beans on the equilibrium price and the equilibrium quantity in the market for cups of coffee.

Renaldo said that a polynomial equation with rational coefficients that has zeros -1 +2i and

$$3 + \sqrt { 5 }$$

has a degree of 4. Is Renaldo correct? Explain.

$$\text { Find an isomorphism from } Z _ { 12 } \text { to } Z _ { 4 } \oplus Z _ { 3 }$$

Use the supply curve represented in Figure 5P-3 to draw the producer surplus when the market price is $\$ 5$. What is the value of producer surplus at this price?

Which of the following would cause the demand for a good to be relatively inelastic? A. The good has a large number of close substitutes B. Expenditures on the good represent a large share of consumer income. C. There is ample time to adjust to price changes. D. The good is a necessity E. The price of the good is in the upper left section of a linear demand curve