14. The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. There is a marginal external _ of _ per ton.
(A) benefit; $200
(B) benefit; $100
(C) cost; $100
(D) cost; $200 

15. Bruce Copperwood's utility of wealth curve is illustrated in the above figure. Bruce is presently employed at a salary of $100,000. There is a 10 percent probability that Bruce will be totally disabled, in which case he will have no wealth. The maximum amount that Bruce is willing to pay for a disability insurance policy that would pay him $100,000 in the case of total disability is (A) $10,000. (B) $90,000. (C) $80,000. (D) $20,000.

16. Which area in the above figure equals the producer surplus under perfect price discrimination? (A) \( A + B + C + D + E + F + G + H + I + J + K \) (B) \( C + D + E + F + G + H \) (C) \( A + B + C + D + E + F + G + H + I + J + K + L \) (D) \( A + B + C + D + E + F + G + H \)

17. Consider the market for dollars. If the exchange rate rises from 2 pesos per dollar to 4 pesos per dollar (A) there is a downward movement along the supply curve for dollars. (B) the supply curve of dollars shifts rightward. (C) the supply curve of dollars shifts leftward. (D) there is an upward movement along the supply curve for dollars. 

18. In the above figure, the inflationary gap when $AD_2$ is the aggregate demand curve equals (A) the difference between 110 and 100. (B) LAS minus SAS at a price level of 100. (C) the difference between $18.5 trillion and $18.0 trillion. (D) \( AD_{1} \). 

19. The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. A slice of pizza costs $4 and a can of Pepsi $2. Suppose Priscilla has $12 to spend. Which of the following leads Priscilla to switch her choices of pizza and Pepsi? (A) an increase in Priscilla's income. (B) an increase in the price of pizza to $6 per slice. (C) a decrease in the price of Pepsi to $1 per can. (D) All of the above will cause Priscilla to change her choices.

20. During 2017, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2016, real GDP was 105 billion and the population was 0.85 billion. In 2017, real GDP per person was (A) $128. (B) $124. (C) $117. (D) $135.

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