If the country wanted to produce the maximum total number of units of guns and butter combined, it would produce at point(s) ________________.
D and E
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A government-inhibited good is a good which
A) is not subject to the principle of mutual exclusivity. B) the political process has deemed socially undesirable. C) can be consumed by one individual without affecting the consumption of another individual. D) the political process has deemed socially desirable.
All of the following are examples of barriers to entry, except one. Which is the exception?
a. significant economies of scale b. reputation of established firms c. special deals with distributors d. excessive prices e. patents
Supply is very inelastic when
A. The quantity supplied changes only when demand changes. B. The quantity supplied changes little when the price increases. C. The quantity supplied does not change at all when price increases. D. The quantity supplied changes a lot when price increases.
Refer to the information provided in Figure 9.5 below to answer the question that follows. 
Figure 9.5Refer to Figure 9.5. From the diagram, existing firms in this industry make ________ economic profits, and as long as this continues, ________.
A. positive; the industry supply curve will shift to the left B. zero; new firms will not enter it and existing firms will not leave it either C. negative; new firms will not enter it and existing firms will leave it D. positive; new firms will enter the industry and existing firms will not leave it