Consider the monopoly in the figure below with price regulated at $20 per unit. Monopoly profits at the regulated price are: 
A. $100.
B. $1,350.
C. $200.
D. There is insufficient information to determine the monopoly profits.
Answer: A
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Oil and oil products remain the main fuel for cars, planes, ships, and power plants. The amount of oil still in the earth is finite. Given this information, the supply of gasoline is:
A. unit elastic. B. relatively elastic. C. relatively inelastic. D. greater than the quantity demanded.
Approximately what percentage of national income consists of compensation of employees?
A. 10 per cent B. 25 per cent C. 70 per cent D. 95 per cent
Juan and Lauren have decided to stop studying economics and get a bite to eat. Juan wants to go for a pizza and Lauren wants a hot dog They decide to go for pizza. What can we conclude from this?
A) Juan always gets more utility from pizza than Lauren does. B) Lauren gets less utility from pizza than she could from a hot dog. C) Lauren will get negative utility from the pizza. D) Utility analysis does not work here since Lauren did not eat a hot dog.
When a person pays a loan back to a bank by writing a check for the amount due, demand deposits decline and the money supply is reduced
a. True b. False Indicate whether the statement is true or false