Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. What is the total cost of producing the profit-maximizing level of output?
A. $9
B. $1,000
C. $5,600
D. $9,000
Answer: D
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An economic rent can be created by a common property without any admission fee
a. only if people have identical tastes. b. if people's tastes differ, but the rent will still be sub-optimal. c. if people's tastes differ, in which case the rent will be optimal. d. if people's tastes differ, in which case the rent will be more than optimal.
Who, among the following, is least likely to practice cost-plus-markup pricing?
A) Dolly J. Dalrymple, a Wisconsin dairy farmer B) The Wisconsin Cheeses-R-Us factory C) The Cheese-of-the-Month Club D) Trick question: all are equally likely to use cost-plus-markup pricing.
If ethanol production is expected to increase the price of corn, U.S. farmers will likely
A) shift the supply of corn to the left. B) shift the supply of corn to the right. C) reduce the production of corn by sliding down the corn supply curve, all else equal. D) increase the production of corn by sliding up the corn supply curve, all else equal.
Refer to the table below. According to the table, Pat has the absolute advantage in: Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. delivering pizza. B. making and delivering pizza. C. neither making nor delivering pizza. D. making pizza.