If Indonesia imposes an import tariff on Hollywood movies, the tariff ________ the price of seeing a movie in Indonesia, the production of movies in Indonesia ________, and imports of Hollywood movies into Indonesia ________

Refer to Figure 2-8. What is the opportunity cost of one dozen roses?

A) 0.4 dozen orchids B) 2.5 dozen orchids C) 7.25 dozen orchids D) 16 dozen orchids

Suppose a monopolist's demand curve is P = 60 - Q, and its cost function is C = 10Q + 50 so its marginal cost is 10. If a governmental agency wished to set the price that maximized social welfare, that price would be

A) $10.00. B) $11.02. C) $14.57. D) $35.00.