In Figure 4.2, the reason that point A is not through the origin but starts up on the vertical axis is that 
A. there are fixed outputs.
B. there is no cost associated with producing no output.
C. there is waste.
D. there are fixed costs.
Answer: D
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Use the figure above to answer this question. Figure ________ shows a short-run equilibrium in good times because the firm makes a(n) ________
A) A; economic profit B) A; normal profit C) B; normal profit D) B; economic loss E) C; normal profit
Governments and legislatures can erect barriers to entry. Which of the following would NOT be one of them?
A) licenses B) tariffs C) Patentsp D) laws that ensure property rights
A firm's marginal revenue product of labor curve is: a. a horizontal straight line at the market wage rate
b. equivalent to its demand for labor curve. c. a vertical line at the market price of the good it produces. d. equivalent to its supply of labor curve.
In Figure 45.1, the profit that employers make from the work of their employees at the equilibrium wage-labor combination is ` 
Figure 45.1
A. OACL*. B. ABC. C. BW*C. D. W*AC.