Refer to the information provided in Figure 7.10 below to answer the question(s) that follow. 
Figure 7.10Refer to Figure 7.10. If this firm's cost of capital is $20 per unit and its cost of labor is $10 per unit, the isocost line represents a total cost of
A. $2,000.
B. $3,000.
C. $4,000.
D. $8,000.
Answer: A
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When state and local governments provide public schools with a per-unit subsidy to provide educational services, the price that the schools providing these services receive is
A) less than the price that consumers pay to receive educational services. B) less than the amount of the per-unit subsidy that the schools receive. C) greater than the market clearing price without the subsidy. D) equal to zero.
In the short run
A. all firms that earn a loss will shut down. B. firms act to minimize losses or maximize profits. C. if current firms are earning a profit, new firms will enter the industry. D. All of the above are correct.
During the last sixty years, the broad stock market (Standard and Poor's 500 Index) yielded an average annual nominal rate of return of approximately ____ and real rate of return of approximately ____
a. 5 percent; 2 percent b. 10 percent; 7 percent c. 17 percent; 9 percent d. 9 percent; 17 percent
The players in a two-person game are choosing between Strategy X and Strategy Y. If the second player chooses Strategy X, the first player's best outcome is to select X. If the second player chooses Strategy Y, the first player's best outcome is to select X. For the first player, Strategy X is called a
a. dominant strategy. b. collusive strategy. c. repeated-trial strategy. d. cartel strategy.