Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow.  Figure 8.5 Refer to Figure 8.5. If one drone is produced, total variable costs are

A firm's total revenue is $400 for 8 units of output, $600 for 12 units of output, and $1,100 for 22 units of output. Evidently this firm is operating in a(n):

a. perfectly competitive market. b. monopolistic market. c. monopsonist market. d. monopolistically competitive market. e. oligopolistic market.

The relationship between money and gross domestic product is shown by the equation of exchange

a. True b. False Indicate whether the statement is true or false