The U.S. Postal Service
a. has as much monopoly power now as it had 100 years ago
b. has lost much of its market power due to new competitors and new technologies
c. has increased its prices by less than the rate of inflation during the past 25 years
d. is more mechanized and more computerized than its potential competitors
e. is a perfectly competitive firm
B
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In the market for fossil-fuel-based electric power,
a. the MEC is horizontal b. the competitive equilibrium is efficient c. the MSC is exactly equal to the MPC d. none of the above
Analysis of the short-run Phillips curve suggests that policymakers who want to reduce unemployment in the short run should ______ aggregate demand at a cost of generating ______ inflation.
A. increase; higher B. increase; lower C. decrease; higher D. decrease; lower
The notion that buyers determine what will be produced by choosing what they purchase is called consumer sovereignty.
Answer the following statement true (T) or false (F)
Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
If Quick Buck and Pushy Sales decide to collude and work together as a monopolist, then together they should produce ________ units per month and charge ________ per unit.
A. 3,000; $1 B. 2,000; $2 C. 4,000; $2 D. 1,000; $3