Manny the Monopolist faces the following demand curve (price and quantity): Price     Quantity Demanded $10                 0 $9                   1 $8                   2 $7                   3 $6                   4 $5                   5 $4                   6 $3                   7 Many the Monopolist has a constant marginal cost $3, and fixed costs are $4. The profit maximizing level of output is _________ and the price is ___________. (Hint: In order to answer this question you may need to create a few more columns from the information provided.

Two competing firms, Quick Shop and Fast Mart, are trying to decide whether to charge a low price or a high price for their biggest seller: veggie burgers. The resulting combination of their strategies determines how much profit each earns this week. Below you, are provided a normal form game table for this strategic interaction. Does this game have one or more Nash Equilibria?  If so, identify each Nash Equilibrium.

Which of the following statements is true? I. The source of market power for monopolistically competitive firms is their ability to differentiate products. II. In the short run, the monopolistically competitive firm sets price and output in a manner similar to a monopolist. III.  In the long run, the monopolistically competitive firm can earn economic profits, but not as large as those made by a monopoly firm. IV. Oligopolies typically earn normal profits.

The following table provides a utility schedule for Emmanuel.  What values belong in blanks (A), (B), and (C)?

Consider the following Unit Cost Curves (ATC, AVC, MC, AFC).  The cost curves are the result of this firms production process.  Unit costs are shown on the vertical access and quantities are shown on the horizontal axis. At what level of output does this firm produce most efficiently?  What is the minimum price this firm would be willing to sell its output?

Consider natural monopolies.  Most natural monopolies have ___________ marginal costs, and ____________ fixed costs.

A manufacturing firm has $400 million in total revenue.  Explicit costs are$380 million.  If its owners have invested $200 million in the company at an opportunity cost of 10 percent interest per year.  What is this firm’s economic profit?

In order for an action potential to be generated threshold must be met in the _____.

What is the purpose of the refractory period in neurons?

Which glial cells are responsible for myelination of tracts in the spinal cord?