When the price level falls, the ________ curve for nominal money ________, and interest rates ________, everything else held constant

The price paid to purchase land

A) has no relation to cost because it did not cost anything to produce the land. B) rarely has any relation to cost because it has usually been determined by competitive bidding. C) usually depends on the cost to the seller of letting the purchaser have the land. D) would more accurately reflect the social value of the land if the price were zero.

Refer to Figure 15-9. At the profit-maximizing quantity, what is the difference between the monopoly's price and the marginal cost of production?

A) $8 B) $11.50 C) $21 D) There is no difference.