A person quits her job in order to spend time looking for a better paying job. This is an example of
A) frictional unemployment.
B) cyclical unemployment.
C) seasonal unemployment.
D) structural unemployment.
A
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In the long-run, a firm in monopolistic competition produces at an output level where
A) P > ATC and MR = MC. B) P > ATC and MR > MC. C) P = ATC and MR = MC. D) P = ATC and MR > MC. E) P = ATC and MC = ATC.
A buyer values a house at $525,000 and a seller values the same house at $485,000 . If sales tax is 8% and is levied on the seller, then what would be the lowest price that the seller would be willing to sell at?
a. $527,000 b. $523,800 c. $525,000 d. $500,000
Factory A can reduce emissions at a cost of $400 per ton. Factory B can reduce emissions at a cost of $100 per ton. In a system in which the government issues transferable pollution right at a price of $200 per ton:
a. Factory A can profit from selling its pollution rights to Factory B. b. Neither firm can profit from selling its pollution rights to the other. c. Factory B can profit from selling its pollution rights to Factory A. d. Both firms have an incentive to sell pollution rights.
Under what conditions might government intervention in a market economy improve the economy's performance?