Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. This firm's total revenue will be maximized at a price of
A. $12.
B. $10.
C. $8.
D. $6.
Answer: B
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According to the text, economists consider full employment to occur when
A) the sum of frictional unemployment and structural unemployment equals zero. B) the unemployment rate consists of only frictional and structural unemployment. C) frictional unemployment equals zero. D) everyone who wants a job has a job.
A family's summer house on Cape Cod pays a return in the form of
A) interest rate. B) capital gains. C) the pleasure of vacations at the beach. D) stock options. E) capital gains and pleasure.
A consumer's reservation price is the price at which a:
A. consumer prefers to purchase at the lowest observed price rather than to engage in another search. B. consumer is indifferent between searching again and purchasing at the lowest observed price. C. producer is indifferent between selling the product and not selling the product. D. consumer prefers to search rather than purchasing at the lowest observed price.
A profit-maximizing firm in a ________ market structure behaves much like a monopolistic firm in the short run.
A. Cournot duopoly B. perfectly competitive C. monopolistically competitive D. All of the above are correct.