If a monopoly is operating on the demand curve where price elasticity is equal to -3, and MR equals 2, then price is equal to
A) 3.
B) 2.
C) 1.
D) 0.
A
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The following graph depicts demand. 
The price elasticity of demand at point D is:
A. 2/5. B. 2. C. 1/2. D. 5/2.
Trade
A. allows a person to consume at a point outside his production possibilities frontier. B. limits a person's ability to produce goods and services on her own. C. must benefit both traders equally. D. is based on absolute advantage.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Which of the following is predicted to deliver a Third Industrial Revolution characterized by low production and transportation costs?
A. New technology in additive manufacturing. B. New technology in energy production involving fusion reactors. C. Significant decreases in petroleum prices with the discovery of new oil fields and new extraction techniques. D. New transportation technology involving anti-gravitational fields.