22. In the above figure, the total revenue for a single-price monopolist is shown by the area
(A)OP₃CQ₁.
(B)P₂P₄eb.
(C) OP₅fQ₁.
(D) OP₄eQ₃.

18. Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. What is Archibald's economic profit at the shut-down point? (A)zero (B)$10 (C) -$15 (D) -$10

19. Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is $12 the firm(A)will shut down. (B)is breaking even. (C) suffers an economic loss, but will not shut down. (D) will not shut down in the short run, but will leave the industry in the long run. (Figure for questions 20-22 is provided in the image)

20.In the above figure, what price will the single-price monopoly set? (A)P2 (B)P1 (C) P4 (D) P5

21. Using the above figure, which of the following statements is true? (A)At point e, the marginal cost of the last unit produced is equal to the price, therefore to maximize its profit the firm should produce no more nor less. (B)At point f, the marginal revenue of the last unit produced is equal to the marginal cost, therefore to maximize its profit the firm should produce no more nor less. (C) At point f, the marginal revenue of the last unit produced is greater than the marginal cost, therefore to maximize its profit the firm should produce more. (D) At point d, the marginal revenue of the last unit produced is less than the marginal cost, therefore the firm should produce more.

23. The above figure shows the kinked demand curve for an oligopolist. Suppose the marginal cost curve is horizontal at $30. Then the firm will produce ______ units of output and charge a price of ______. (A)3； $40 (B)3； $30 (C) 3； $10 (D) 4； $30

24.Consider the above figure. Suppose Chocar imposes a quota of 8 million cars per year on car imports from Azabin. As a result of the quota, the price at which the imported cars will be purchased in Chocar is (A)$11,000 per car. (B)$13,000 per car. (C) $12,000 per car. (D) More information about the demand for cars in Azabin is needed to answer the question.

25. Voluntary export restraint agreements are (A)a type of tariff in which the tax is based on the value of the good. (B)a type of tariff in which the tax is a fixed amount per unit of the good imported. (C) a type of quota that actually benefits the firms facing the restrictions. (D) a type of quota in which the government of the exporting nation agrees to limit its exports. 

26.The information in the table above gives the 2017 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2018 prices. What is the value of the CPI for the reference base period, 2017? (A)75 (B)140 (C) 100 (D) 133

27.The information in the table above gives the 2017 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2018 prices. What is the value of the CPI for 2018? (A)133 (B)140 (C) 100 (D) 75

28. Suppose the CPI in 2017 = 121 and the CPI in 2018 = 137. The correct method to calculate the inflation rate is (A)(137-121)/100 = 0.16. (B)[(137-121)/121] × 100 = 13.2. (C) (137/121) × 100 = 113.2. (D) 137 x 121 = 258.