Key to Test 2 Study Problems

Here is the answer key to the practice problems (see I-drive):

1-D, 2-D, 3-A, 4-C, 5-D, 6-C, 7-D, 8-B,
9-A, 10-D, 11-D, 12-B, 13-D, 14-A,
15-A, 16-B, 17-C, 18-C, 19-D, 20-A,

Note: problems 21-24 relate to the nearest diagram (the one used for 18 & 19). Problem 20 is not relevant to that diagram. I apologize for any confusion.

21. $125
22. $12.50
23. $137.50 (= $125 + $12.50)
24. 10 units of the good are gone unproduced and unsold.

Let me know if you think there are any errors on the answer key.