Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. If the market price of soybeans falls to $8, then to maximize profits this farmer should produce
A. 200 bushels of soybeans.
B. 700 bushels of soybeans.
C. 1,000 bushels of soybeans.
D. a level of output that is indeterminate from this information.
Answer: B
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A) -1 percent. B) 1.2 percent. C) 1 percent. D) -0.83 percent.
When Sophie, a French citizen, purchases a Dell computer in Paris that was produced in Texas, the purchase is
A) neither an export nor an import for either country. B) a U.S. export and a French import. C) a U.S. import and a French export. D) both a U.S. and a French import.
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A) the market equilibrium price to increase B) the market equilibrium price to decrease C) earning economic profits indefinitely D) the market supply to decrease
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