Unit Test — Unit test Answers

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When prices for homes rise, why might construction companies decide to build more homes?

to increase employment

to make a profit

to create a need for more resources

to boost name recognition

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A reward or punishment that encourges people to behave in a certain way is called a(n)

want.

price ceiling.

equilibrium price.

incentive.

South Avenue Publishing produces self-help books. The company’s profit is the

money the company earns after paying all of its production costs.

paper, binding, and other supplies the company purchases.

total amount the company receives from the sale of its books.

amount of money the company earns from selling a single book.

The graph shows a point of equilibrium.How many goods must be supplied to achieve equilibrium?

Wellness Pharmaceuticals has released a new antidepressant, Lexabuzac. Which type of monopoly does the company most likely have on this medication?

natural monopoly

de facto monopoly

government monopoly

technological monopoly

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