Consider the video we watched on Trader Joe’s. What human behavior did it speak to? Would Trader Joe’s strategy appeal to you personally? Explain why or why not.

Every day, people who work as servers serve meals to people at restaurants all over the world. These people work for our benefit because:

Matilda sells her iPhone, which she considers worthless, to Gabriel for $200. Which statement is TRUE?

The supply curve shows the relationship between:

To maximize profit, a firm in a competitive market increases output until:

Which are features of monopolistic competition?I. few sellersII. free entryIII. product differentiation

Figure: Monopoly Profits 1What is the monopolist’s optimal price and output level?

Total revenue is:

Figure: Demand CurveWhat is the maximum price per book that buyers are willing to pay for 2,500 books?

Figure: Market EquilibriumAccording to the figure, the equilibrium price and quantity are $: