Based on Table 9.3, the capital account balance is equal to

The above figure shows the demand and cost curves facing a monopoly. The monopoly maximizes profit by setting price equal to

A) $100. B) $200. C) $300. D) $400.

Variable costs are

a. the same as sunk costs b. irrelevant to decision making, because they are sunk c. the costs of inputs that vary with the level of production d. the costs of inputs that do not vary with the level of production e. the additional total cost associated with producing an additional unit of output