Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the isocost line represents a total cost of $7,200, the firm's cost of capital is ________ per unit and its cost of labor is ________ per unit.
A. $36; $72
B. $144; $72
C. $72; $36
D. $200; $100
Answer: A
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The distinction between purchase price and rental price applies to which factor(s) of production?
a. land only b. capital only c. land and capital only d. land, capital, and labor
Exhibit 8-4 Demand and cost curves for a monopolist
?
As shown in Exhibit 8-4, in order to maximize its profit (or minimize its loss), what price should the monopoly charge for its product?
A. $60 per unit. B. $90 per unit. C. $120 per unit. D. $150 per unit.
Regulatory commissions may focus on establishing a "fair-return" price to be charged by a monopolist. Under this policy, the monopolist would earn:
A. positive economic profits. B. zero economic profits. C. negative economic profits. D. monopoly profits.
The United States has roughly how much of the world's arable land?
A. 8 percent. B. 12 percent. C. 10 percent. D. 14 percent.