Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If twelve microwave ovens are produced, average variable costs are
A. $16.67.
B. $41.67.
C. $66.67.
D. $166.67.
Answer: B
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War can be expected to do all of the following things to an economy except
a. reduce the labor supply b. reduce the capital stock c. shift the production possibilities curve inward d. reduce technological knowledge e. reduce roads, bridges, and railroad networks
An increase in the demand for a product will cause
a. both the demand for and prices of the resources used to produce the product to decline. b. both the demand for and prices of the resources used to produce the product to increase. c. the demand for the resources used to produce the product to increase and their prices to decline. d. the demand for the resources used to produce the product to decline and their prices to increase.
Describe in words how one can recognize the market equilibrium point in a graph of a demand schedule and a supply schedule
Please provide the best answer for the statement.
Refer to the diagram for a pure monopolist. If the monopolist is unregulated, it will maximize profits by charging:
A. a price above P 3 and selling a quantity less than Q 3 .
B. price P 3 and producing output Q 3 .
C. price P 2 and producing output Q 2 .
D. price P 1 and producing output Q 1 .