The labor force participation rate equals the
A) (number of employed divided by the labor force) × 100.
B) (labor force divided by the number of people not in the labor force) × 100.
C) (labor force divided by working-age population) × 100.
D) (labor force divided by the total population) × 100.
Answer: C
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Answer the following statement true (T) or false (F)
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Indicate whether the statement is true or false
A price-setting firm faces the following estimated demand and average variable cost functions:Qd = 800,000 - 2,000P + 0.7M + 4,000PRAVC = 500 - 0.03Q + 0.000001Q2where Qd is the quantity demanded, P is price, M is income, and PR is the price of a related good. The firm expects income to be $40,000 and PR to be $53. Total fixed cost is $2,600,000. What is the estimated demand function for the firm?
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What will be an ideal response?