The price chosen by a monopolist:
A) maximizes social surplus.
B) maximizes consumer surplus.
C) is dependent on the production of other firms.
D) is independent of the production of other firms.
D
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Refer to the figure below. If Laura and Chris are the only two consumers in this market then at a price of $2.50 per pound, the market demand for hamburger is: 
A. 4.5 pounds per week B. 1.5 pounds per week C. 3 pounds per week D. 4 pounds per week
In a perfectly competitive market, an increase in market demand
A) raises the price in the short run and attracts new firms in the long run. B) raises the price in the short run and the long run. C) lowers the price in the short run and in the long run. D) has no effect on the price in either the short run or the long run because the firms are price takers.
Classical economists and modern monetarists agree that the best way to examine the economy is through the use of
A) aggregate supply and demand. B) the multiplier. C) the quantity theory. D) the GNP account.
When economists are trying to explain the world, they are
a. scientists. b. policy advisers. c. in the realm of microeconomics rather than macroeconomics. d. in the realm of normative economics rather than positive economics.