Based on all these data, the equilibrium price of the product in the market will be:
Refer to the cost table above. Now suppose that there are 600 identical firms in this industry, each with the same cost data as the single firm discussed above. Suppose, too, that the demand curve for this industry is as follows:
A. $60
B. $95
C. $120
D. $75
B. $95
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Producers in perfect competition receive a smaller producer surplus than a monopoly producer
Indicate whether the statement is true or false
In response to significant economic problems, the Obama administration recommended
a. more tax cuts. b. increased government spending. c. substantial aid to state and local governments. d. all of the above
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Assume that there is no way to prevent someone from using an interstate highway, regardless of whether or not she helps pay for it. This characteristic is associated with:
A. rival goods. B. complementary goods. C. capital goods. D. public goods.