Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. At the market price of $8 per bushel, if this farmer produces the profit-maximizing level of soybeans, the total revenue would be
A. $1,200.
B. $2,800.
C. $5,600.
D. $8,400.
Answer: C
Economics
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In recent years, average household income in the United States was highest for households headed by someone aged
A) 35 to 44. B) 45 to 54. C) 55 to 64. D) 65 and over.
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Refer to Figure 28-9. A supply shock, such as rising oil prices, would be depicted as a movement from
A) C to E to B. B) C to D to A. C) C to B to A. D) A to B to C. E) A to D to C.
Economics
Which of the following is NOT a benefit of derivatives?
A) risk sharing B) guaranteed minimum profit C) liquidity D) information services
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Refer to the above table for smartphones. Suppose there are technological advances in the production of smartphones. The new equilibrium price will be
A. $275. B. less than $275. C. between $275 and $375. D. $375.
Economics