The profit-maximizing price and quantity of the monopolist compared to the perfectly competitive industry in the above figure are, respectively

According to the textbook, what was Adam and Eve's economy like?

a. primitive, because technology in the Garden of Eden was non-existent b. wasteful, because Adam and Eve did not know how to use the abundant resources available c. underemployed, because there were only two workers d. there was no economy because there was no reason to economize e. the same as ours because the law of scarcity is universal

Derived demand:

A. is the sum total of all factors of production for a given good or service. B. is only computed for the long-run demand decisions based on short-run marginal changes. C. refers to the demand for variable inputs when at least one fixed input exists. D. refers to the supply decisions of a final good influencing the demand for the inputs needed to make it.