Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. For Christine to earn a normal profit as a consultant, her accounting profit would have to be ________.
A. $51,000
B. $0
C. $9,000
D. $40,000
Answer: D
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Monopolistically competitive markets are like perfectly competitive markets because in both markets firms:
A. have some control over price. B. face substantial barriers to entry. C. face a large number of competitors. D. have no control over price.
Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
If Quick Buck and Pushy Sales decide to collude and work together as a monopolist, then together they should produce ________ units per month and charge ________ per unit.
A. 3,000; $1 B. 2,000; $2 C. 4,000; $2 D. 1,000; $3
Recent activity in the area of civil rights has been a movement towards aggressive affirmative action
Indicate whether the statement is true or false
The law of demand states that
a. quantity demanded is inversely related to price b. quantity demanded is directly related to income c. marginal utility is inversely related to quantity consumed d. total revenue is directly related to price e. demand curves are linear