Refer to Figure 4.8. If half of your friends go to the beach and half go to the park, and you decide to go to the park, then
A) your friends at the beach will switch to the park.
B) you and your friends at the park will switch to the beach.
C) your friends at the beach will switch to the park and your friends at the park will switch to the beach.
D) your friends will all stay where they are.
A
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To maximize its profit, the firm in the figure above will produce ________ jeans and set a price ________ per pair of jeans
A) 150; between $50 and $25 B) 125; $25 C) 125; $50 D) 125; $75 E) None of the above answers are correct.
One of the objections to the supply-side economics is that it tends to ignore the effects of tax cuts on aggregate demand.
Answer the following statement true (T) or false (F)
The prime rate is a lagging indicator
a. True b. False Indicate whether the statement is true or false
In the table below, the capital stock is fixed at 40 units, the price of capital is $15 per unit, and the price of labor is $80 per unit. 
If the firm produces 180 units of output, what is total variable cost?
A. $1,200 B. $17,100 C. $14,400 D. $1,800 E. none of the above