If the marginal cost were $22, the firm would maximize its profit at _____ unit(s) of output.

When Grayce deposits $4,000 cash in her checkable deposit at the Beach Bank and the Beach Bank's excess reserves increase by $3,600, the desired reserve ratio is

A) 5 percent. B) 90 percent. C) 10 percent. D) 15 percent. E) $400.

The firm's demand curve in monopolistic competition slopes downward because

a. there are strong barriers to entry in the industry b. of product differentiation among the goods firms produce c. only few firms exist in the industry d. the market demand curve is downward sloping e. the market demand curve is horizontal