Refer to Figure 7-1. The market equilibrium quantity is ________ thousand vaccinations
A) 100 B) 200 C) 300 D) >300
B
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If Sam does not have a job and is NOT currently looking for work but has looked in the past, he is considered
A) unemployed. B) not in the labor force. C) unemployed and in the labor force. D) unemployed and not in the labor force.
Refer to the above graph of the representative firm in monopolistic competition. Marginal revenue and marginal cost intersect at point:
A. a. B. b. C. c. D. d.
The nondiscriminating pure monopolist's demand curve:
A. is the industry demand curve. B. tends to be inelastic at high prices and elastic at low prices. C. is identical to its marginal revenue curve. D. shows a direct or positive relationship between price and quantity demanded.
Figure 4.3 illustrates the demand for tacos. Assume that tacos and burritos are substitutes. A decrease in the price of burritos would bring about a movement from:
A. point a to point c. B. point c to point b. C. D2 to D0. D. D1 to D2.