Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8. The general formula for the slope of any of the isocost lines is
A. TC/PK.
B. -PK/PL.
C. -PL/PK.
D. TC/PL.
Answer: C
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In a subgame-perfect equilibrium
A) each player's strategy constitutes a Nash equilibrium at every subgame of the original game. B) the last mover has an advantage over other players. C) the first mover has an advantage over other players. D) each player has the same response as the others at every subgame of the tree.
Franco's Frozen Ice produces Italian flavored ice that is sold in the freezer section of grocery stores. Currently, Franco's does not have a fixed advertising budget and advertises in grocery stores' weekly advertising flyers and on the radio. A unit of advertising in the weekly flyers costs $2,000 and a unit of advertising on the radio costs $5,000. At their current advertising levels, the
marginal benefit of advertising in the flyer is $2,500 and the marginal benefit of advertising on the radio is $5,000. Which of the following is true? A) To maximize profits, Franco's should increase the amount of advertising in flyers. B) To maximize profits, Franco's should decrease the amount of radio advertising. C) To maximize profits, Franco's should decrease the amount of advertising in flyers. D) Franco's is currently maximizing its profits from advertising.
The money supply changes due to:
a. Rising velocity. b. Rising oil and other natural resource prices. c. Rising GDP. d. Rising money multiplier. e. A depreciating currency.
Microeconomics and macroeconomics are closely linked
a. True b. False Indicate whether the statement is true or false