Assume that a firm's marginal revenue curve intersects the rising portion of the marginal cost curve at 100 units of output. At this output level, a profit-maximizing firm's total cost is $1,000 . If the price of the product is $10 per unit, the firm will earn an economic profit of:

Rent controls are

A) when rents are set above the market clearing level to aid landlords. B) used to provide incentives to contractors to build new apartments. C) used to generate revenue for the local government. D) when rents are set below the market clearing level.

When we study choice architecture, we recognize that people make:

A. choices which always maximize their well-being. B. mistakes in seemingly random ways. C. mistakes in common and predictable ways. D. choices that rarely maximize their well-being.