Refer to the information provided in Figure 10.4 below to answer the question(s) that follow. 
Figure 10.4 Refer to Figure 10.4. At a market wage rate of $15, firms will hire ________ units of labor.
A. 175
B. 100
C. between 0 and 99
D. 0
Answer: A
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Which is a required characteristic of a perfectly competitive industry?
A) There are few firms so that none can influence market price. B) Products are highly differentiated. C) Barriers to entry are high. D) None of the above
Refer to Figure 3.2, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, if the market quantity supplied is 50, the price must be:
A. $0. B. $10. C. between $10 and $20. D. $30.
The aggregate demand curve of an economy: a. is downward sloping. b. first declines and then becomes positively sloped. c. is horizontal
d. is vertical. e. first rises and then becomes negatively sloped.
Which of the following is true for a profit-maximizing competitive firm in the long run but not a monopolist?
A. MC = MR. B. MC = P. C. AR = P. D. Q > 0.