Part II: Multiple Choice Questions (2 points/question) Choose the answer you think is best for each of the following questions by putting an "X" between the parentheses.l U: All Other things being equal, which of the following statements is true? (1} If unemployment increases, the opportunity cost of attending university decreases. (2} If men generally earn more than women in the labor market. there must be a majority of women in universities. a. (1}only b. (2} only c. (1}and (2} d. neither { 1) nor {2) e. Unable to answer without additional information. Answer: [ ] 16. 'Which of the following events explains the rising portion of the average total cost (ATC) eurve'? increasing marginal costs. diminishing marginal utility. decreasing average fixed costs. diminishing returns (marginal product}. amoc'a constant returns ['0 scale. Answer: [ ] 17'. 1Which of the following characteristics does not apply to perfect competition? no company has an inuence on the market price There are many companies There are barriers to entry 9-9157?\" The companies as well as the buyers are perfectly informed of the prices charged by each of the companies in the sector e. the companies on the market do not show any particular advantage over potential entrants Answer: [ ] 13. Which of the following statements is both true for a opolist and a firm in perfect competition? a. Every firm maximizes its prots when marginal cost equals marginal revenue b. Every firm is a price taker. c. Each firm can sell all its output at whatever price it decides d. The firm's marginal cost is less than the price e. None of the above answers. Answer: [ ]