Suppose a monopolistic competitor produces 2,000 units of the good in equilibrium and charges a price of $10 for each unit. If the average total cost of producing 2,000 units of the good is $6, what is the total profit earned by the producer?

An advantage of the proprietorship as a form of business organization is

A) its limited liability. B) its limited access to capital, thus reducing the possible size of debt. C) that it is easy to form. D) that it can sell bonds to the public.

The market in which the equilibrium level of the interest rate is determined is the

A) money market. B) goods market. C) labor market. D) services market.