The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social benefit from the 300th dozen doughnuts each day?

Based on the information in Scenario 1, nominal GDP grew by about ________ percent from 2015 to 2016

A) 23 B) 31 C) 62 D) 162

Nike is a firm in monopolistic competition. If Nike is earning an economic profit from new cross-training shoe, over time the demand for these shoes

A) increases as new firms enter the market. B) decreases as new firms enter the market. C) does not change as new firms enter the market. D) decreases as firms exit the market. E) increases as firms exit the market.