Refer to the figure below. 
This firm's marginal revenue curve would intersect the vertical axis at ________.
A. $70
B. $35
C. $20
D. $0
Answer: A
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The formula used for calculating the total profit of a monopolistic competitor is ________
A) (Price - Average Total Cost) × Quantity B) Price - Marginal Cost C) (Price- Average Total Cost) / Quantity D) (Price -Average variable cost)
A budget line represents all the combinations of two good a consumer can buy with a given amount of money and fixed prices for the goods
a. True b. False Indicate whether the statement is true or false
Index mutual funds purchase shares of stock in those companies which are included in the market based indexes
a. True b. False Indicate whether the statement is true or false
Economists would describe cartels as
A. the opposite of ignoring interdependence. B. a collusive arrangement. C. an undesirable form of market organization that may charge a monopoly price. D. All of the responses are correct.