The graph shown portrays a subsidy to buyers. Before the subsidy is put in place, the producers sold _____ units and received _____ for each of them.

When weighing the efficiency of monopolistic competition, which of the following should be considered?

i. The information provided by advertising ii. Product variety iii. The extra cost of excess capacity A) ii only B) i and iii C) ii and iii D) i, ii, and iii E) iii only

Refer to Figure 2-2. If Vidalia chooses to produce 80 dozen roses, how many orchids can it produce to maximize production?

A) 24 dozen orchids B) 48 dozen orchids C) 60 dozen orchids D) 74 dozen orchids