Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by reducing its price to $1 while Acme continues to comply with the collusive agreement, then Mega's economic profit will be ________.
A. $200
B. $150
C. $100
D. $75
Answer: B
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Henry David Thoreau faced a choice: Stay in the village of Concord or move out to Walden Pond. He decided to move to Walden. What was his" opportunity cost"?
A) There was no opportunity cost if he didn't pay rent for his cabin on Walden Pond. B) The satisfaction he would have enjoyed were he to stay in Concord C) The sweat and toil of building his own cabin and living off the land at Walden Pond D) There was no opportunity cost, because he made a free and voluntary decision to live the way he preferred to live.
The United States has a closed economy
Indicate whether the statement is true or false
Technology is
A) society's pool of knowledge of how to produce goods and services. B) a resource like land or physical capital. C) computers and lasers. D) not obtainable by engaging in activities that increase human capital.
Given the prices of two goods, all quantity combinations inside the budget line are:
a. indifferent. b. efficient. c. unattainable. d. attainable.