Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume the Custom Sweater Shop has fixed costs of $500 and is a monopolistically competitive firm. If this firm is producing the profit-maximizing level of output and selling it at the profit-maximizing price, the firm's profit is
A. -$400.
B. -$350.
C. -$500.
D. -$50.
Answer: A
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What is the price elasticity of demand if rentals decrease by 20 per day? A) 1.25 B) 1.33 C) 1 D) 0.8
Explain how the aggregate demand curve is derived
What will be an ideal response?
Ceteris paribus, a decrease in the price of a good will cause the: a. quantity demanded of the good to decrease
b. quantity supplied of the good to increase. c. consumer surplus derived from the good to increase. d. supply of the good to decrease.
In calculating GDP, the value of intermediate goods is eliminated by using the
A. value added method. B. distributive method. C. value association method. D. Federal Reserve method.