A nation's standard of living depends on its population and labor productivity
a. True
b. False
Indicate whether the statement is true or false
True
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The figure above shows the cost, demand, and marginal revenue curves for a monopoly. The firm
A) will make an economic profit of $20. B) will charge a price of $10 per unit. C) will produce 20 units per day. D) is a natural monopoly.
Per capita GDP will definitely fall when
A. The population growth rate exceeds the economic growth rate. B. Population increases. C. The labor force decreases. D. GDP decreases.
One way to allocate the scarce good created from an effective price ceiling is to:
A. give them to the friends and family of the producers. B. offer it on a first-come, first-served basis. C. ration a certain quantity per household. D. All of these are examples of allocating using non-price methods.
The payoff matrix below shows the daily profit for two firms, Row Restaurant and Column Cafe, for two different strategies, publishing coupons in the student paper and not publishing coupons in the student paper. 
If Column Cafe publishes coupons and Row Restaurant does not, then Row Restaurant will earn ________, and Column Cafe will earn ________.
A. $120; $120 B. $25; $25 C. $200; $10 D. $10; $200