Given the monopolistic firm pictured below what is the profit-maximizing price?

Economic growth is generally measured as the percentage increase in a country's

A) real GDP. B) nominal GDP. C) annual employment rate. D) per-capita nominal GDP.

The price elasticity of demand for corn is 0.4. A new hybrid of corn is discovered and all farmers start to use it, which increases the quantity of corn they can produce from each acre. What happens to the farmers' total revenue?

A) The total revenue will increase. B) The total revenue will decrease. C) The total revenue will not change. D) There is not enough information to determine what happens to the total revenue.