Which statement is true?
A. A firm will always produce at an output corresponding to the minimum point of its ATC curve.
B. Efficiency and profit maximization always occur at the same output.
C. A firm will operate in the short run if total revenue is greater than variable costs.
D. The rule for maximizing profits is different than the rule for minimizing losses.
C. A firm will operate in the short run if total revenue is greater than variable costs.
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Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck will sell ________ units and Pushy Sales will sell ________ units.
A. 3,000; 1,000 B. 0; 3,000 C. 2,000; 1,000 D. 3,000; 0
Electric car manufacturers want to sell more electric cars at a higher price. Which of the following events would have this effect?
A) an increase in the price of gasoline. B) technological advancement in the production of electric car batteries. C) an increase in the number of manufacturers of electric cars. D) a decrease in the price of lithium, which is used in the electric car batteries.
The increase in total revenue that results from the sale of one additional unit of output is known as
a. average revenue. b. total revenue. c. marginal revenue. d. variable revenue.
Core inflation is a measure of:
A. the change in the Consumer Price Index with durable goods excluded. B. an overall rise in prices in the economy. C. inflation that excludes goods with historically volatile price changes. D. the Consumer Price Index with durable goods excluded.