Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. From society's point of view, the ________ level is 25 haircuts.
A. shut down
B. efficient output
C. minimum output
D. monopoly output
Answer: B
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The reason that higher interest rates reduce aggregate demand in an open economy with capital flows is that investment
A. increases generated by higher interest rates are offset by net export decreases. B. decreases generated by higher interest rates are coupled with net export decreases. C. decreases generated by higher interest rates are offset by net export increases. D. increases generated by higher interest rates are coupled with net export increases.
"Fixed exchange rates are not even an option for most countries." Discuss
What will be an ideal response?
Suppose group price discrimination is possible; however, a firm sets the same price in each market. As a result,
A) price elasticity of demand is the same in each market. B) the price-inelastic market will buy zero units. C) marginal revenue in the more price-elastic market exceeds marginal revenue in the less price-elastic market. D) the deadweight loss is less than if the firm price discriminated.
Economics is primarily the study of: a. how choices are made in a world of scarcity
b. corporate balance sheets and income statements. c. how to operate a business. d. how to make money in the stock market.