Refer to the information provided in Figure 13.4 below to answer the question(s) that follow. 
Figure 13.4Refer to Figure 13.4. At its production point, the ________ for this firm is $11.
A. marginal cost
B. profit-maximizing price
C. average total cost
D. marginal revenue
Answer: B
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Which of the following results in a movement along the supply curve of spinach but does not shift the supply curve of spinach?
A) disastrous weather that destroys half of this year's spinach crop B) a rise in the price of spinach C) an increase in wages for workers in spinach fields D) great weather that produces a bumper spinach crop this year
To say that a price ceiling is nonbinding is to say that the price ceiling a. results in a surplus
b. is set above the equilibrium price. c. causes quantity demanded to exceed quantity supplied. d. All of the above are correct.
At equilibrium GDP
A. Savings = investment, but aggregate demand does not equal aggregate supply. B. Savings = investment and aggregate demand = aggregate supply. C. Savings does not equal investment and aggregate demand does not equal aggregate supply. D. Savings does not equal investment, but aggregate demand = aggregate supply.
Refer to the graph below, which shows the supply and demand for British pounds. D1 and S1 represent the initial demand and supply curves. If there is a large increase in the number of American tourists visiting Britain because of a major event like the Olympics or the World Cup, then what should the British government do if it wants to fix the exchange rate at its initial level?
A. Shift D1 to D2
B. Shift D1 to D3
C. Shift S1 to S2
D. Shift S1 to S3