B positive c negative d equal to marginal cost and

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b. positive. c. negative. d. equal to marginal cost and both are equal to zero. Feedback The correct answer is: positive.
Question 17 A statement that best reflects an evaluation of monopoly firms is that: Select one:
Question 18 Which one of the following is an example of a frictionally unemployed individual? Select one:
Question 19 Because tourist demand for airline flights is relatively _______ , small _______ in price will result in relatively _______ in additional tourists. Select one:
Question 20 Economic profits are guaranteed for: Select one: a. a monopoly, but not a perfectly competitive firm. b. a perfectly competitive firm, but not a monopoly. c. both a monopoly and a perfectly competitive firm. d. neither a monopoly nor a perfectly competitive firm. Feedback The correct answer is: neither a monopoly nor a perfectly competitive firm.
Question 21 ExhibitFigure7-2 In this exhibit (Figure 7-2), the potential output in this economy is: Select one:
c. $7,000 billion at a price level of 1.08. d. described correctly in all of the above. Feedback The correct answer is: described correctly in all of the above.

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