A monopolistic competitor's demand curve is
a. perfectly elastic
b. less elastic than a monopolist's or oligopolist's but more elastic than a perfect competitor's
c. as elastic as an oligopolist's
d. more elastic than a monopolist's or oligopolist's but less elastic than a perfect competitor's
e. perfectly inelastic
D
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Suppose the consumer price index (CPI) for Year X is 130 . This means the average price of goods and services is:
a. currently $130. b. 130 percent more in Year X than in the base year. c. 130 percent more in the base year than in Year X. d. priced at 30 percent more in Year X than in the base year.
Which of the following examples demonstrates an individual action that can spill over as a positive externality?
a. Ms. Tan gets a haircut and a manicure. b. Mr. Scheeff gets the flu vaccine. c. Mr. Demetri drives really fast. d. Mrs. Milano eats an apple.
A demand schedule refers to the combinations of price and quantity that represent the:
A. Concerns of regulators. B. Preferences of businesses. C. Desires of consumers. D. Demands of producers.
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. After firms can respond to the payroll tax, the per-hour equilibrium wage paid by firms ________ compared to the original equilibrium wage.
A. decreases by $2 B. decreases by $5 C. increases by $3 D. increases by $5