Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. 
Figure 16.1 Refer to Figure 16.1. The ________ amount of fertilizer is 50 bags.
A. unregulated
B. break-even
C. equitable
D. efficient
Answer: D
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If the discount rate is 5 percent, the present value of annual $100,000 payments in perpetuity (i.e., continued indefinitely into the future) is
a. $2,000,000 b. $1,246,296 c. $1,000,000 d. $976,463 e. infinite
Suppose Campus Books, a profit-maximizing firm, is the only supplier of the textbook for a given class. The marginal cost of supplying each book is constant and equal to $10, and Campus Books has no fixed costs. The table shows the reservation prices of the eight students enrolled in the class. CustomerReservation Price($/Book)Q60R54S48T42U36V30W24X18What will be Campus Books' economic profit if it must charge a single price to all of its customers?
A. $120 B. $128 C. $130 D. $180
Table 17.1Refer to Table 17.1. If the price of output is $2 per unit, the marginal revenue product of the eighth unit of labor is:
A. $10. B. $20. C. $310. D. $620.
In the infinitely-repeated Bertrand model:
A. firms play the Bertrand pricing game over and over, with no definite end. B. firms play the Bertrand pricing game one time. C. firms play the Bertrand pricing game several times, with a clearly defined endpoint. D. firms play the Bertrand pricing game at least two times, but no more than four.