Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume the Custom Sweater Shop has fixed costs of $500 and is a monopolistically competitive firm. To maximize profits in the short run, this firm should produce ________ personalized sweaters.
A. 0
B. 100
C. 140
D. 150
Answer: B
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The problem the agent faces when deciding how to keep the agent motivated is called
a. Adverse selection b. Moral hazard c. Both of the above d. None of the above
Claude's Copper Clappers sells clappers for $40 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is $39, average variable cost is $25, and average total cost is $45 . To improve his profit/loss situation, Claude should
a. increase output b. reduce output but not to zero c. maintain the present rate of output d. shut down e. raise the price
Briefly explain how American railroads lost their transportation monopoly.
What will be an ideal response?
Answer the following statements true (T) or false (F)
1) A system of fixed exchange rates is more likely to result in exchange controls than is a system of flexible (floating) exchange rates. 2) A nation that imports more goods and services than it exports is necessarily realizing an international balance of payments deficit. 3) The United States has had significant trade and current account surpluses in recent years. 4) A current account deficit will reduce U.S. foreign indebtedness.