Refer to Table 5.2, which gives cost information for the production of widgets. Some values are missing, however. Which of the following is true?
A. A=45, E=40
B. A=75, E=40
C. A=45, E=10
D. A=75, E=10
Answer: C
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The alternative combinations of final goods and services that can be produced with all available resources and technology are the
A. Nominal GDP. B. Real GDP. C. Production possibilities. D. Net domestic product.
If, as an entrepreneur, I am earning accounting profits of $70,000 per year and the opportunity cost of my time is $80,000
A. I should close my business. B. I am earning economic profits of $10,000. C. I am earning economic profits of $150,000. D. I am earning economic profits of $70,000.
Price for a perfectly competitive seller equals:
A) average revenue divided by price. B) marginal revenue divided by price. C) total revenue. D) marginal revenue.
Refer to the information provided in Figure 13.2 below to answer the question(s) that follow. 
Figure 13.2 Refer to Figure 13.2. The firm's marginal revenue will be negative at
A. all prices. B. $9. C. $3. D. prices between $4 and $8.