A housecleaning company receives $25 for each house cleaned. The table below gives the relation between the number of workers and the number of houses that can be cleaned per week. 
Based on the above info, if the company want to maximize profit and hires three workers, the wage rate of a housecleaner can be no more than
A. $225.
B. $175.
C. $600.
D. $200.
E. none of the above
Answer: B
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If a perfectly competitive firm is a profit-maximizer, it produces where
a. MR>MC b. P>MR c. P = MC d. TR = TC
Answer the following statements true (T) or false (F)
1. Once the monopolistic competitor is established and earning positive economic profits, no other firms will be able to profitably enter the market. 2. There are no benefits to monopolistic competition, because it does not provide either productive or allocative efficiency. 3. Oligopolies can form when smaller firms would have higher average costs and be unable to compete, while larger firms would produce such a high quantity that they would not be able to sell it at a profitable price. 4. Even when oligopolists recognize that they would benefit as a group by acting like a monopoly, if one or more give in to the temptation to produce just a slightly higher quantity and earn a slightly higher profit, the market price will fall. 5. Because of antitrust regulations, merging businesses are not allowed to hire workers or lay them off for a period of at least 18 months.
How much is the average propensity to consume when disposable income is $2 trillion?
A. .25
B. .5
C. .75
D. 1.0
Governments establish the laws that regulate the interaction between businesses and households but do not serve as actors in the economy themselves.
Answer the following statement true (T) or false (F)