Refer to the table below for a monopolist. A non-discriminating monopolist would maximize profits at a price and quantity of:
The following question is based on the demand and cost data for a pure monopolist given in the table below.
A. $250 and 2 units
B. $200 and 3 units
C. $150 and 4 units
D. $100 and 5 units
B. $200 and 3 units
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Player 1 and Player 2 are playing a game in which Player 1 has the first move at A in the decision tree shown below. Once Player 1 has chosen either Up or Down, Player 2, who can see what Player 1 has chosen, must choose Up or Down at B or C. Both players know the payoffs at the end of each branch. 
What is the equilibrium outcome of this game?
A. Player 1 chooses Up and Player 2 chooses Down. B. Player 1 chooses Down and Player 2 chooses Up. C. Player 1 and Player 2 both choose Down. D. Player 1 and Player 2 both choose Up.
Suppose that a firm chose an output level where the total cost and total revenue curves intersect. At this level of output,
a. the firm is maximizing profits b. the firm is minimizing losses c. profit is zero d. total revenue is maximized e. total cost is minimized
One theory that predicts sustained wage and rent differentials is based on the idea that your accumulation of human capital raises the productivity of the other workers and the physical capital in your locale. In this situation, human capital accumulation creates
a. a signaling equilibrium. b. external benefits. c. compensating differentials. d. intertemporal substitutions.
Which of the following agricultural programs reduces agricultural output rather than increasing it?
A. Marketing orders. B. Farm cost subsidies. C. Direct income support programs. D. Export sales.