The formula used for calculating the total profit of a monopolistic competitor is ________
A) (Price - Average Total Cost) × Quantity
B) Price - Marginal Cost
C) (Price- Average Total Cost) / Quantity
D) (Price -Average variable cost)
A
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In the Keynesian model, fluctuations in aggregate spending cause:
A. enhanced labor market mobility. B. changes in potential output. C. recessions and expansions. D. changes in average labor productivity.
Today's forward rate must equal the future spot rate
Indicate whether the statement is true or false
By continuing to operate when price is greater than average variable cost but less than average total cost, a firm limits its losses to:
A) $0. B) its total fixed costs. C) the difference between its total fixed cost and the amount by which total revenue exceeds total variable costs. D) its total variable costs.
Labor supply can be defined as the
A. Willingness and ability of people to work specific amounts of time at alternative wage rates in a given period of time, ceteris paribus. B. Total number of people in paid employment. C. Total number of individuals who are either employed or actively seeking employment. D. Total number of people who are employable.