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 three microwave ovens are produced, Micro Oven's total variable costs are
A. $150.
B. $200.
C. $300.
D. $500.
Answer: B
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Angelina Jolie's economic rent from starring in a movie is equal to the difference between:
A. her final salary and what she could earn by starring in a different movie. B. her initial salary offer and her final salary, including royalties. C. her final salary and the average salary for leading actresses. D. her final salary and the least she would be willing to accept to star in the movie.
Modern inventions, like the Internet or discoveries in genetics or materials science, seem to provide smaller gains to output than earlier inventions like the steam engine or the railroad
a. True b. False Indicate whether the statement is true or false
Amy runs a business in a market where all firms are price takers. Bill suggests that she lower her price to attract even more business. Should Amy follow Bill's suggestion, or should she even consider raising her price?
Helped by desktop publishing, the number of vintage baseball card forgeries has flooded the market for vintage baseball cards. Dealers left the market for fear of purchasing a phony. What was the effect on the market for vintage baseball cards assuming phonies could not be detected?
A. Demand shifted to the left, supply did not change, price declined, and quantity traded declined. B. Supply shifted to the right, demand did not change, price declined, and quantity traded rose. C. Supply shifted to the right, demand shifted to the left, and price declined. D. Supply shifted to the right, demand shifted to the left, and price rose.