Refer to the information provided in Figure 13.4 below to answer the question(s) that follow. 
Figure 13.4Refer to Figure 13.4. If this firm is producing the profit-maximizing quantity and selling it at the profit-maximizing price, the firm's profit will be
A. $0.
B. $88.
C. $154.
D. $242.
Answer: B
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When a good is nonexcludable, then individuals
A. will purchase the good for less than it cost to produce. B. can obtain the benefits of the good without paying for it. C. have an incentive to become free riders. D. will purchase more than the optimum amount. E. b and c
If inflation falls,
a. people choose to put in more effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from lenders to borrowers. b. people choose to put in more effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from borrowers to lenders. c. people choose to put in less effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from lenders to borrowers. d. people choose to put in less effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from borrowers to lenders.
One reason that we might observe a rise in net capital outflow could be interest rates in the:
A. rest of the world are declining, relative to the U.S. B. U.S. and the world are all increasing. C. U.S. and the world are all declining. D. U.S. are declining, relative to the rest of the world.
Answer the following statement true (T) or false (F)
1) Property rights over fish in the open ocean exist once the fish are caught. 2) Fisheries have been overexploited relative to forests primarily because people care more about trees than fish. 3) TAC policies help reduce overfishing and reduce costs for fishers. 4) Total allowable catch policies promote economic efficiency better than individual transferable quotas.