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  1. Wholesale fresh flowers.
  2.  
  3.  
  4. 2. Is $1 per unit.
  5.  
  6.  
  7. 3. Exclusive franchises.
  8.  
  9.  
  10. 4. $300.
  11.  
  12.  
  13. 5. A decrease in supply.
  14.  
  15.  
  16. 6. $360,000.
  17.  
  18.  
  19.  
  20. 7. Face downward-sloping market demand curves.
  21.  
  22.  
  23. 8. MR = MC.
  24.  
  25.  
  26.  
  27. 9. -$75.
  28.  
  29.  
  30. 10. An economic loss will occur.
  31.  
  32.  
  33. 11. Little because society would be willing to give up more alternative goods in order to get additional shoes.
  34.  
  35.  
  36. 12. Price is driven down to minimum ATC.
  37.  
  38.  
  39. 13. Do any of the above depending on the position of the AVC and the length of the time period.
  40.  
  41.  
  42. 14.
  43. Large advertising budgets.
  44.  
  45.  
  46.  
  47.  
  48.  
  49. 15.
  50. C.
  51.  
  52.  
  53.  
  54. 16.
  55. Is the demand curve facing the monopolist.
  56.  
  57.  
  58.  
  59.  
  60. 17. Economies of scale.
  61.  
  62.  
  63.  
  64.  
  65.  
  66. 18 T
  67.  
  68.  
  69. 19 T
  70.  
  71.  
  72. 20 Price equals minimum ATC
  73.  
  74.  
  75.  
  76.  
  77.  
  78. 21 long run fixed costs
  79.  
  80.  
  81.  
  82.  
  83.  
  84. 22 True
  85.  
  86.  
  87.  
  88.  
  89. 23 Additional units of output will add to the firm's profits (or reduce losses).
  90.  
  91.  
  92.  
  93.  
  94. 24 T
  95.  
  96.  
  97. 25 the market supply curve for catfish will shift to the right
  98.  
  99.  
  100.  
  101.  
  102.  
  103.  
  104. 26
  105. $5.50.
  106.  
  107.  
  108.  
  109.  
  110. 27 Produce with an economic loss.
  111.  
  112.  
  113.  
  114.  
  115.  
  116.  
  117. 28 The ATC, MC, and market price would all decrease.
  118.  
  119.  
  120.  
  121.  
  122.  
  123. 29 D: Potential competition exists
  124.  
  125.  
  126.  
  127.  
  128.  
  129.  
  130. 30. The Sherman Act
  131.  
  132.  
  133.  
  134. 3 of them a wrong.
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