The monopolistically competitive firm maximizes profit by producing to the point at which
A) ATC = AVC.
B) MC = MR.
C) MR = AR.
D) MC = AR.
B
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Regulation
A) always increases consumer surplus. B) passes the cost-benefit test. C) solves market failures of all size. D) None of the above.
People who are not currently employed, but say they want a job, are counted as unemployed only if they:
a. have previously held a job. b. are actively seeking employment. c. are willing to accept a reasonable offer. d. are between 16 and 65 years of age. e. are willing to accept any offer of employment.
Which of the following would cause a rightward shift in the aggregate supply curve?
A. larger-than-expected wage increases B. lower oil prices C. increased investment spending D. greater government regulation
If workers in an industry become less productive, we would expect the
A. demand for workers to increase. B. supply of workers to decrease. C. demand for workers to decrease. D. supply of workers to increase.