Refer to the above table. If the price of the product is $1.50, and the marginal factor cost of an additional unit of an input is $135, how many units of labor should be hired?
A. 12
B. 13
C. 11
D. 14
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Refer to Figure 15-12. What is the amount of consumer surplus if, instead of monopoly, the industry was organized as a perfectly competitive industry?
A) $21 B) $124 C) $186 D) $332
A perfectly competitive market is in equilibrium and 50,000 units are being produced. If four firms take over this market and a Cournot oligopoly is formed, what is the new total equilibrium quantity produced?
A) 50,000 B) 60,000 C) 62,500 D) 40,000
An unmarried couple holding joint title to their condominium constitutes a household
a. True b. False Indicate whether the statement is true or false