In the above figure for a monopolistically competitive firm, the total revenue at the profit-maximizing point is
A. $400.
B. $880.
C. $840.
D. $540.
Answer: C
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"Because monetary policy must be approved by the president of the United States, the president is chair of the Federal Open Market Committee." Analyze the previous statement—is it correct or incorrect?
What will be an ideal response?
When determining the production possibilities curve
A) the trade-off between the goods in the economy remains constant. B) the amount of productive resources remains constant. C) the prices of the goods are used. D) the prices of resources are used.
When the price is P1, in order to maximize profits this firm must produce a quantity equal to 
A. q2. B. q1. C. q3. D. Q1.
An unregulated natural monopolist will produce the quantity at which
A. average total costs are minimized. B. the long-run average cost curve intersects the demand curve. C. marginal cost equals the long run average cost curve. D. marginal cost equals marginal revenue.