Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. This farmer would earn a zero economic profit if price was
A. $7.
B. $9.
C. $10.
D. $11.
Answer: C
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Answer the next question on the basis of the following data.OutputTotal Cost0$24133241348454561669The marginal cost associated with the production of the sixth unit of output is
A. $12. B. $8. C. $24. D. $16.
Unlike banks, ________ have been allowed to branch statewide since 1980
A) federally-chartered S&Ls B) state-chartered S&Ls C) financially troubled S&Ls D) technically insolvent S&Ls
?If each variable in a single cross-sectional equation is differenced over time, then it is called the:
A. ?unobserved effects model. B. ?first-differenced estimator. C. ?fixed effects model. D. ?first-differenced equation.
Describe the shape of the typical production possibilities curve and explain why it has this shape.
What will be an ideal response?