The labor-supply and labor-demand curves for the market intersect:
A. at the equilibrium wage.
B. above equilibrium price.
C. at the number of unemployed people in the market.
D. All of these statements are true.
A. at the equilibrium wage.
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Refer to Figure 15-6. The monopolist's total cost is
A) $1,116. B) $1,240. C) $1,660. D) $1,726.40.
Economists distinguish between normal and inferior goods using
a. price elasticity of demand b. price elasticity of supply c. income elasticity of demand d. cross-price elasticity of demand e. tax incidence
If a regulatory board wanted to make sure that a natural monopoly earned a normal rate of return, it should set price which is equal to: a. marginal cost
b. average fixed cost. c. average variable cost. d. average total cost.
The key determinant of net capital outflow is the real interest rate
a. True b. False Indicate whether the statement is true or false