Based on the following table, what is average fixed cost when 200 units of output are produced? 
A. $150
B. $2.80
C. $80
D. $1.50
E. none of the above
Answer: D
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If there is an autonomous decrease in spending (a leftward shift in the aggregate demand curve) and the Fed wishes to hold real income constant, then the Fed would:
A) decrease the money supply yielding a leftward shift in the aggregate demand curve. B) increase the money supply yielding a rightward shift in the aggregate demand curve. C) hold the money supply constant. D) none of the above.
Refer to the above figure. Which of the following points indicates an unobtainable point of production?
A) a B) d C) e D) More information is needed to answer the question.
Social regulations can create
A) a more competitive market place. B) network externalities. C) a lower HHI. D) barriers to entry.
Answer the following statement(s) true (T) or false (F)
1. In the prisoners’ dilemma game, the prisoners can talk to each other about their decision. 2. The firms in an oligopoly often behave like the prisoners in the prisoners’ dilemma. 3. The arms race between the United States and the former Soviet Union is a classic example of the prisoners’ dilemma. 4. The tit-for-tat strategy is commonly used in one-shot games between oligopolists. 5. The snob effect is a positive network externality.