The relationship between quantity supplied and price is _____ and the relationship between quantity demanded and price is _____
A. direct; inverse
B. inverse; direct
C. inverse; inverse
D. direct; direct
Answer: A
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Peak efficiency _________ achieved under monopolistic competition.
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Figure 7.4 below to answer the question(s) that follow. 
Figure 7.4Refer to Figure 7.4. The marginal product of the second worker is
A. 10. B. 16. C. 20. D. 32.
If the price is less than the average variable cost, the firm should produce
A. where ATC is minimized. B. where AVC is minimized. C. where MC=MR. D. zero.
Linesha, a college student working part-time received a wage increase. An avid movie buff, she increased her purchases of Blu-ray discs and reduced her purchases of DVDs. Based on this information
A) DVDs and Blu-ray discs are substitutes. B) the cross-price elasticity between DVDs and Blu-ray discs is negative. C) DVDs and Blu-ray discs are normal goods. D) Blu-ray discs are normal goods and DVDs are inferior goods.