Which concept springs to mind when thinking of the classical model?
a. Inflation.
b. Population growth.
c. Markets clear.
d. The microeconomy.
e. Money supply.
C
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Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
If Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price, then what will be Mega's economic profit?
A. $150 B. $100 C. $50 D. $0
In the above figure, if D2 is the original demand curve and the price of a substitute in consumption rises, which price and quantity might result?
A) point a, with price P2 and quantity Q2 B) point b, with price P1 and quantity Q1 C) point c, with price P3 and quantity Q3 D) point d, with price P1 and quantity Q3
The antitrust law that prohibits price discrimination on grounds that it reduces competition is
A) the Federal Trade Commission Act. B) the Clayton Act. C) the Robinson-Patman Act. D) the Sherman Act.
The poverty line is
a. established by the federal government. b. approximately equivalent to three times the cost of providing an adequate diet. c. an absolute level of income below which a family is deemed to be in poverty. d. All of the above are correct.