A monopolistically competitive firm maximizes profit in the short run by producing where
A) price is less than marginal revenue. B) price is greater than marginal cost.
C) price is less than average revenue. D) price is less than marginal cost.
B
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The government authorized $10 million to build bridges on an interstate. After $8 million were spent, serious engineering flaws were discovered. At that point, experts testified that the government must authorize another $10 million in funding to make the bridges safe, bringing the project's total cost to $20 million. The government should authorize the additional funding as long as the benefits from the completed bridges exceed
a. $10 million. b. $12 million. c. $18 million. d. $20 million.
Refer to Table 11-1. What is the marginal product of the 4th worker?
A) 137 pounds B) 50 pounds C) 12.5 pounds D) 5 pounds
After a price floor of $23 is placed on the market in the graph shown, which area represents consumer surplus?
A. A
B. A + B
C. A + B + C
D. A + B + C + D
Refer to the following nonlinear model which relates W to P, Q, and R:W = aPbQcRdThe computer output form the regression analysis is: 
Based on the info above, the value of R2 tells us that
A. 90.23% of the total variation in ln W is explained by the regression equation. B. 0.9023% of the total variation in P, W, and R is explained by the regression equation. C. 0.9023% of the total variation in ln W is explained by the regression equation. D. 0.9023% of the total variation in ln P, ln Q, and ln R is explained by the regression equation.