Refer to the above table. If the price is $3 the maximum profit this firm could earn is

Which of the following models results in the highest level of output assuming a fixed number of firms with identical costs and a given demand curve?

A) Cournot B) Stackelberg C) Monopoly D) Cartel

Which of the following statements is false?

A) The Fed serves as the lender of last resort for banks. B) The Fed serves as a fiscal agent for the U.S. Treasury. C) A major responsibility of the Fed is to control the nation's money supply. D) The federal government is the Fed's banker.