Total revenue is the same for every price-quantity combination along a unit elastic demand curve
a. True
b. False
A
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Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 and Pushy Sales matches the price cut, then if consumers are evenly split between the two firms, what will be Quick Buck's economic profit?
A. $3,000 B. $1,000 C. $1,500 D. $2,000
Debt equity swaps may lead to
(a) increased foreign ownership. (b) greater domestic inflation. (c) lower debt servicing requirements. (d) all of the above. (e) none of the above.
A notion that supports the idea that some items should be distributed equally to all is known as
A. Pareto efficiency. B. the Hoover Principle. C. poverty gap closing. D. commodity egalitarianism.
Recall the Application about the break-even price for growing switchgrass, a perennial grass that is native to the U.S. plains states and is used to create biofuel, to answer the following question(s).Recall the Application. If the minimum average total cost for switchgrass farmers is $55 per ton and the minimum average variable cost is $40 per ton, then at a price of $50 per ton in the short run the switchgrass farmer will:
A. shut down, that is, bring no switchgrass to market. B. operate and lose money. C. make a zero economic profit. D. make a positive economic profit.