Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. If Dom's Barber Shop is maximizing profit, its total costs are
A. $200.
B. $240.
C. $350.
D. $360.
Answer: B
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The figure above shows the market for milk. If one firm owns all the milk outlets in the city and sells 100 gallons of milk
A) the market is efficient because the marginal social benefit from the last gallon of milk exceeds its marginal social cost. B) the market is efficient because the total social benefit from milk exceed the total social cost. C) there is a deadweight loss because the marginal social benefit from the last gallon of milk exceeds its marginal social cost. D) there is a deadweight loss because the marginal social cost of the last gallon of milk exceeds its marginal social benefit.
If Health Spas charges an annual membership fee of $1,000 for the use of their facilities and charges a $20 fee each time a member uses their facilities, the $1,000 charge is a(n) ________ fee and the $20 charge is a(n) ________ fee.
A) user; user B) fixed; fixed C) user; fixed D) fixed; user
If a coin is flipped two times, what is the probability of a tail appearing on the first toss and then a head appearing on the second toss?
A) 0.50 B) 1.0 C) 0.75 D) 0.25
Government spending is a leakage out of the circular flow of income and spending
a. True b. False Indicate whether the statement is true or false