In the Cournot model, the output that a firm chooses to produce increases as
A) the total output of other firms increases.
B) the number of firms in the market increases.
C) the number of firms in the market decreases.
D) its marginal cost increases.
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's economic profit will be ________.
A. $2,000 B. $4,000 C. $6,000 D. $3,000
Assume the supply curve of labor has the usual shape. If the wage rate is $10, 1,000 carpenters are willing to supply their labor. If the wage rate increases to $20, the
a. quantity supplied of labor will be more than 1,000 b. quantity supplied of labor will be less than 1,000 c. labor supply curve shifts to the right d. labor supply curve shifts to the left e. same amount of carpentry labor will be supplied
Two major exports for the United States are
A) clothing and office machines. B) soybeans and scientific instruments. C) footwear and fish. D) coffee and diamonds. E) none of the above
The total variable cost associated with the production of 5 units of output is
Use the following table to answer the next question.
| Output | Total Cost |
| 0 | $10 |
| 1 | 20 |
| 2 | 28 |
| 3 | 38 |
| 4 | 53 |
| 5 | 73 |
| 6 | 98 |
The total variable cost associated with the production of 5 units of output is