Thirsty Thelma Owns and Operates a Small Lemonade Stand

question 384

Multiple Choice

Thirsty Thelma owns and operates a small lemonade stand. When Thelma is producing a low quantity of lemonade she has few workers and her equipment is not being fully utilized. Because she can easily put her idle resources to use,

• A)the marginal cost of an extra worker is large.
• B)the marginal cost of one more glass of lemonade is smaller than if output were high.
• C)the marginal product of an extra worker is small.
• D)her lemonade stand is likely to be crowded with workers.

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Definitions:

Sadness

An emotional state characterized by feelings of disappointment, loss, or despair.

Tears

A saline fluid produced by the lacrimal glands, serving both emotional and lubricative functions for the eyes.

Secondary Emotion

Emotions that develop with more cognitive processing and social learning, such as guilt or shame, as opposed to primary emotions like happiness or fear.

Remorseful

Feeling deep regret or guilt for a wrongdoing, similar to being penitent or contrite.