Which of the following firms is in an oligopoly?
A. Verizon (a cellular phone company)
B. United Airlines (an airline company)
C. Marlboro (a cigarette manufacturer)
D. All of these are in an oligopolistic market structure.
Answer: D
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If a firm can adjust its employment of all inputs, then it is
a. experiencing economies of scale. b. in the long run. c. off its expansion path. d. limited only by the capacity of its fixed capital.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The above figure shows the market for anti-freeze. The government imposes the sales tax shown in the figure on sellers. What is the deadweight loss from this tax?
A) $1,500 B) $3,000 C) $4,500 D) $6,000
All else constant, the choice of whether to use a labor-intensive production process or a capital-intensive one is depends on:
A) the absolute prices of capital and labor. B) the relative prices of capital labor. C) the type of market in which the firm operates. D) whether the economy is growing or shrinking.