A monopoly has ______ seller(s) in the market.
A. 0
B. 1
C. 3
D. many
B. 1
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If the price of product X increases, then the resulting decline in the amount purchased will
A. reduce the marginal utility of the last unit consumed of this good. B. increase the marginal utility of the last unit consumed of this good. C. necessarily increase the consumer's total utility from his total purchases. D. increase the total utility from purchases of this good.
Use the following supply and demand graph for product X to answer the question below. 
If there are positive externalities from the consumption of product X, then the socially optimal demand curve would be
A. an upward-sloping line. B. to the left of line D on the graph. C. at the position of line D on the graph. D. to the right of line D on the graph.
Over the past several decades, federal transfer payments as a fraction of GDP have trended upward
a. True b. False
Recall the Application about federal quality standards in the market for kiwifruit to answer the following question(s).Recall the Application. The sweetness of the kiwifruit is based on:
A. its maturity at the time of harvest. B. the amount of water on the ground where it is grown. C. the amount of sunshine at the location of the plantation. D. the variety of the tree.