Which of the following describes the economic meanings of cost and price?
A) Cost is exchange worth, and price is dollar worth.
B) Cost is what must be given up to produce a good, and price is what a seller receives when the good is sold.
C) They are the same, and they both mean what is received when a good is sold.
D) Cost refers to what the buyers pay for the good, and price refers to what sellers receive when the good is sold.
E) Cost refers to the price that buyers must pay to buy the good.
B
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In the figure above, Gap maximizes its profit if it sells ________ jackets per day
A) 100 B) 64 C) 129 D) 133
Forming a cartel is illegal in _____
a. the United States b. Canada c. India d. Australia
Refer to the information provided in Figure 7.10 below to answer the question(s) that follow. 
Figure 7.10Refer to Figure 7.10. The slope of the isocost line (in absolute value) is
A. greater than 1. B. less than one. C. equal to 1. D. equal to 0.
Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 
Figure 15.4 Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $90 and is a monopolistically competitive firm. If the firm is attempting to maximize profits, its profit is
A. -$90. B. -$175. C. $0. D. -$100.