Refer to the information provided in Figure 7.9 below to answer the question(s) that follow. 
Figure 7.9Refer to Figure 7.9. The slope of isocost CD is
A. greater than the slope of isocost AB.
B. less than the slope of isocost AB.
C. equal to the slope of isocost AB.
D. indeterminate from this information, as the prices of capital and labor are not given.
Answer: C
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If, for the last unit of a good produced by a perfectly competitive firm, MR > MC, then in producing it, the firm
A) added more to total costs than it added to total revenue. B) added more to total revenue than it added to total cost. C) has minimized its losses. D) is maximizing marginal profit.
When U.S. net exports fall, which decreases the aggregate quantity of goods and services demanded, the dollar must have
a) depreciated b) reciprocated. c) appreciated. d) equivocated.
The television network newscaster reports that the national inflation rate the past year equaled 4 percent. This report would be of particular interest to a
A. microeconomist. B. normative economist. C. macroeconomist. D. social science economist.
Under what market structure do we have strategic play?
A. Oligopoly B. Monopoly C. Monopolistic Competition D. Perfect Competition