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 two microwave ovens are produced, Micro Oven's total variable costs are
A. $150.
B. $300.
C. $450.
D. indeterminate from this information.
Answer: A
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A) They pursue plans. B) Their plans are consistent with the public interest. C) They don't understand the economic way of thinking. D) Their demands for all scarce goods are very inelastic.
If a producer can sell each and every unit he can possibly produce for $10 each, then
A) he is a price taker. B) the demand for his product is infinitely elastic. C) his marginal revenue curve is a horizontal line at $10. D) all of the above are true.
The Coca-Cola Company has chosen to keep its soda formula a secret, ________
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A) procyclical and leading. B) procyclical and lagging. C) countercyclical and leading. D) countercyclical and lagging.