Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. If Dom's maximizes profits, its ________ is $240.
A. profit
B. marginal revenue
C. total revenue
D. total cost
Answer: D
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The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bag of corn chips?
A) 3 bottles of soda per bag of corn chips B) 1/3 bottle of soda per bag of corn chips C) $3 D) 33¢
Crowding out suggests that
A) high taxes reduce both consumption and saving. B) increases in consumption are always at the expense of saving. C) increases in government spending may raise the interest rate, thereby reducing investment. D) increases in government spending will close a recessionary gap.
Big Roads and Big Pavers are two competing road construction firms. The managers of these two firms should never undertake all of the following actions except which? one?
A) agree to not submit a bid on a government road contract
B) share information and experiences from implementing new government safety standards
C) agree to only operate in a specific area of the country
D) adjust the amount they bid on a government road contract
The only variable that can affect a movement along the demand curve is
A) income levels. B) the price of the good itself. C) the number of buyers. D) the number of substitutes.