In long-run equilibrium, the typical perfectly competitive firm has no incentive to:
a. change output.
b. change plant size.
c. enter or leave the industry.
d. do any of these.
d
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Marginal cost ________ as the quantity produced is increased
A) first increases and then decreases B) first decreases and then increases C) always increases D) always decreases
When shirking at the workplace occurs, increased monitoring of workers is the only effective way to reduce this behavior
Indicate whether the statement is true or false
In a prisoner's dilemma game, each person will pick
A) their best outcome given what the other person will do. B) their best outcome. C) their worse outcome. D) their best outcome after consulting with the other person.
Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess demand of money which will cause the interest rate to ________
A) right; fall B) right; rise C) left; fall D) left; rise