Because audited financial statements are __________ to prepare, restrictive covenants rarely appear in loan contracts to companies with __________ than $1 million in assets

A monopolist faces a demand curve given by P = 60 -2Q and has total costs given by TC = Q2. Its marginal revenue is MR = 60 - 4Q and its marginal cost is MC = 2Q. In autarky, what is the firm's equilibrium output?

a. 5 b. 10 c. 15 d. 20

The above figure shows the U.S. market for replacement cell phone batteries. Area E is the

A) producer surplus when there is free trade. B) deadweight loss from tariff. C) tariff revenue. D) increase in producer surplus due to the tariff. E) gain in total surplus due to the tariff.