The above figure shows the demand curves in four different markets. If each of the markets has an identical upward sloping supply curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?
A) A
B) B
C) C
D) D
E) C and D
C
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Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck will sell ________ units and Pushy Sales will sell ________ units.
A. 3,000; 0 B. 3,000; 1,000 C. 2,000; 1,000 D. 0; 3,000
Refer to the figure above. What is the price effect of a price increase from $3 to $5?
A) $200 B) $400 C) $800 D) $1,000
The Federal Reserve reduced the fed funds rate to the 0-0.25 percent range in 2008 in response to the Lehman Brother's catastrophe
a. True b. False Indicate whether the statement is true or false
In which case do firms have some control over their price?
a. monopolistic competition and perfect competition b. oligopoly but not perfect competition c. perfect competition but not monopoly d. neither monopolistic competition nor oligopoly