Economics Test

A wholesale tuna market is obtaining tuna from both domestic and foreign suppliers. Pricing is set based on supply and local demand.

Which events would trigger an increase in the amount, measured in tons, of tuna being traded at the market?

The housing market is overheating, labor unions are protesting against sky-high house prices, the central bank is worried that further increases in household mortgage debt threaten the nation’s financial stability, and politicians are being pressured to help their electoral bases.

Which measures should work in favor of lowering the sale prices of houses?

Ariana is producing organic blueberry jam from her small garden. Producing the first jar is expensive ($8.00) because she needs time to get set up. With every additional jar of jam, the cost decreases, all the way to $2.00 for the 7th-11th jars. But if she wants to produce more than 11 jars, Ariana needs to invest more money into organic fertilizer, which in turn increases the cost of jars after the 11th. She has never succeeded in producing more than 25 jars in total. Ariana tracked the estimated cost of every jar she has produced:

A merchant offers to pay $5.10 per jar for as many jars as Ariana can produce.

For this price, how many jars should she produce in order to maximize her profit?