Refer to Figure 9.9. At free trade, domestic consumer surplus would be
A) $20,000.
B) $27,500.
C) $40,000,000.
D) $45,000,000.
E) $75,625,000.
E
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Which of the following is the best example of a monopolistically competitive market?
a. Wheat. b. Automobiles. c. Diamonds. d. Retail sales.
In the figure above, if the market is unregulated, the output will be
A) zero. B) 50 units. C) 150 units. D) 250 units.
Which of the following refers to extremely high rates of inflation for sustained periods of time?
a. deflation b. hyperinflation c. bust d. depression
From the viewpoint of potential criminals, the probability of being fined or imprisoned:
A. Raises the marginal utility of criminal behavior B. Lowers the marginal utility of criminal behavior C. Raises the marginal cost or "price" of criminal behavior D. Lowers the marginal cost or "price" of criminal behavior