Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume The Custom Sweater Shop has fixed costs of $350 and is a monopolistically competitive firm. To maximize profits in the short run, this firm should produce ________ personalized sweaters.
A. 100
B. 75
C. 50
D. 0
Answer: D
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Increases in capital per worker ________ because ________
A) increase real GDP; they create a movement downward along the productivity curve B) increase real GDP; they create a movement upward along the productivity curve C) increase real GDP; they shift the productivity curve upward D) increase real GDP; they shift the productivity curve downward E) may increase or decrease real GDP; the result is a movement along the productivity curve but the direction depends on other factors not given
The purpose of a cartel is to:
a. promote product innovation. b. increase market competition. c. act like a monopoly. d. diversify operations. e. decrease market concentration.
The price elasticity of demand measures the responsiveness of quantity demanded to changes in price
a. True b. False
Which of the following is NOT included in M1?
A. transaction deposits B. currency C. traveler's checks D. saving deposits