Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced.
B. overallocation of resources.
C. an impossible production point.
D. technological advancement.
Answer: A
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Refer to the figure above. What is the revenue of the firm when it sells the profit-maximizing level of output?
A) $40 B) $160 C) $180 D) $240
The most likely impact of an unanticipated increase in the money supply is
a. an increase in the real interest rate, which in turn stimulates investment and GDP. b. a decrease in the real interest rate, which in turn stimulates investment and GDP. c. a reduction in the general level of prices, which will increase the disposable income of households. d. an improvement in technology, which will stimulate both output and employment.
Being guided by self-interest when making a decision means that you
a. act in a selfish manner b. attempt to maximize utility c. ignore the wishes of your family d. reduce the incentives of others
When a monopolist charges a low price to drive out competition, then charges a high price, the monopolist is engaging in:
A. a trust agreement. B. a merger. C. duopoly pricing. D. predatory pricing.