Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume the Custom Sweater Shop has fixed costs of $275 and is a monopolistically competitive firm. If this firm is attempting to maximize profits, the firm's profit is
A. -$275.
B. -$100.
C. -$75.
D. $0.
Answer: A
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In the figure above, the dark triangle is the
A) consumer surplus. B) deadweight loss. C) producer surplus. D) total cost. E) economic profit.
In international finance, speculation involves: ·
a. not being able to make a commitment to buy or sell. b. taking a risk by purchasing (or selling) a foreign currency asset,holding it in anticipation of a rate increase (decrease). c. simultaneously buying several currencies to ensure that at least one will rise in value. d. avoiding risk of loss by offsetting an obligation to buy a foreign currency by locking in a contract to sell it at the same time.
The hiring rule for a firm that faces a downward sloping demand curve for its output is to hire that amount of labor for which the wage rate is equal to
A. MRPL. B. the price of the good being sold. C. VMPL. D. marginal revenue.
What is meant by the skill-bias technological explanation of increasing inequality?
A. Inequality has increased because technological advances over the last 40 years have complemented the productivity of unskilled labor relative to foreign labor. B. Inequality has increased because technological advances have not kept pace with the demand for education. C. There has been increasing inequality over the last 40 years among high-skilled workers. D. There has been increasing inequality over the last 40 years because unskilled workers use no technology. E. Inequality has increased because technological advances over the last 40 years have complemented the productivity of skilled labor relative to unskilled labor.