Suppose that the profit maximizing level of output for the monopolist is 10 units, and price = $50, ATC = $35, and AVC = $25. What is the monopoly's profit?

The implicit rental rate for capital is

A) an accounting cost. B) part of the firm's normal profit. C) an opportunity cost. D) a cost that is irrelevant to the business.

The purchase of Treasury securities by the Federal Reserve will, in general,

A) increase the quantity of reserves held by banks. B) decrease the quantity of reserves held by banks. C) not change the money supply. D) not change the quantity of reserves held by banks.