If an inefficient public monopoly cannot provide a service at a price that sufficient numbers of people are willing to pay it:
A. can remain in operation by covering its losses with revenue from taxes.
B. must shut down and leave the industry in the long run.
C. should expand operations until demand is satisfied.
D. will seek out more efficiencies.
A. can remain in operation by covering its losses with revenue from taxes.
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The figure below shows the supply and demand curves for oranges in Smallville. 
The marginal buyer values the tenth pound of oranges at ________.
A. $12 B. $8 C. $4 D. $0
Refer to Figure 4-11. What is the value of the deadweight loss after the imposition of the price floor?
A) $600 B) $1,800 C) $2,700 D) $3,300
The spread between interest rates on low quality corporate bonds and U.S. government bonds
A) widened significantly during the Great Depression. B) narrowed significantly during the Great Depression. C) narrowed moderately during the Great Depression. D) did not change during the Great Depression.
Assume that recent oil exploration coupled with a fall in demand reduced petroleum imports of a nation to zero. We can expect:
a. the domestic price of petroleum to fall below the world price. b. the world price of petroleum to fall to equal the domestic price. c. petroleum exported by the domestic producers to increase. d. petroleum exported by the domestic producers to decrease.