Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If seven drones are produced, total variable costs are
A. $14.29.
B. $21.43.
C. $50.
D. $100.
Answer: D
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In September 2008, the MONTHLY rate of inflation in Zimbabwe approached 489 BILLION percent. An inflation rate such as this would
A) be too high to calculate using the CPI. B) decrease the natural rate of unemployment. C) seriously disrupt normal commerce. D) all of the above.
Define X = exports, M = imports, S = saving, I = investment, T = net taxes, G = government expenditure. Which of the following formulas is correct?
A) X - M = S - I - T - G B) X - M = S - I + T - G C) X - M = S + I + T - G D) X - M = S + I -T + G E) X - M = S + I +T + G
The area above the market supply curve and below the market price
A) is equal to the total cost of production. B) is equal to the total amount of producer surplus in a market. C) is equal to the total amount of economic surplus in a market. D) is equal to the marginal cost of the last unit produced.
A perfectly competitive firm's pricing decision depends on:
a. whether the firm wants to maximize profits or not. b. whether the firm wants to maximize sales revenue or not. c. the firm's costs. d. whether it wants to compete with other firms in the market or not. e. the market supply and demand.