Can a monopolist that can charge only one price maximize its profit at a quantity that is equal to the quantity produced if the industry were perfectly competitive?
A. No. Never,
B. Yes, if the fixed costs are zero.
C. Yes, if the marginal costs are zero.
D. Yes, if the total costs are zero.
Answer: A
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Refer to Mexico and Japan. What is the cost of producing 1 bolt of clothing in Mexico?
a. 6 hours of labor.
b. 2 bushels of food.
c. 3 bushels of imported Japanese food.
d. 4 bolts of imported Japanese cloth.
To close a recessionary gap, the Fed would
A) decrease the money supply. B) increase interest rates. C) sell bonds. D) increase the money supply.
Countries with more economic freedom have levels of economic growth that
a. are generally higher than those of nations with less economic freedom. b. are similar to those of nations with less economic freedom since the level of investment, not economic freedom, determines the growth rate. c. cannot continue at high levels because too little government planning is being done. d. are generally lower than the growth rates of countries with less economic freedom.
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. This firm's marginal revenue will be positive at
A. all prices. B. prices above $10. C. prices between $4 and $8. D. all prices below $20.