"We offer the best deal in town. If somebody charges a lower price, bring in their ad and we'll beat it!" From the economic point of view, the firm promising to match its competitor's low prices is attempting to
A) lie.
B) cheat.
C) learn more about the market.
D) do nothing more than bait and switch their customers.
C
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The responsiveness of the quantity demanded of one good to a change in the price of a different good is measured by the:
A. cross-price elasticity of demand. B. income elasticity of demand. C. price elasticity of supply. D. price elasticity of demand.
Which of the following indifference curves maximizes utility or satisfaction given the consumer's budget line for sodas and cookies? 
A. U1 B. U2 C. U3 D. U4
Figure 7-1
Of the graphs in Figure 7-1, which best represents marginal physical product?
A. 1 B. 2 C. 3 D. 4
Refer to the information above. What is the level of consumption when the level of income is 850?
A) 375 B) 425 C) 450 D) 475