Refer to the information provided in Figure 15.2 below to answer the question(s) that follow. 
Figure 15.2 Refer to Figure 15.2. At We Do Hair, a monopolistically competitive firm, the ________ perm is $32.
A. marginal cost of a
B. profit-maximizing price for a
C. average total cost of a
D. profit on each
Answer: B
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In the long run, following a combination of a negative demand shock and a temporary negative supply shock,
A) both inflation and output return to the original long-run equilibrium values. B) inflation is permanently increased, while output returns to potential output. C) output returns to potential output, while inflation may be higher or lower than its initial value. D) inflation is permanently reduced, while output returns to potential output. E) None of the above.
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm total cost is
A) $100. B) $70. C) $30. D) $130.
When a firm's earnings rise, its stock prices will tend to fall
a. True b. False Indicate whether the statement is true or false
All else equal, a decrease in the demand for oranges will lead to a(n) ________ in equilibrium price and a(n) ________ in equilibrium quantity.
A. decrease; increase B. decrease; decrease C. increase; increase D. increase; decrease