Evidence shows that many people who delay searching for a job for a year or longer after they are laid off
A) find that they have little to no chance to find new employment after being unemployed for so long.
B) find it easier to find new employment than if they had searched for a new job soon after they were laid off.
C) find that the extra unemployment benefits they receive during their extended period of unemployment more than make up for the difficulty in finding a job once they decide to re-enter the workforce.
D) find it more difficult to find new employment than if they had searched for a new job soon after they were laid off.
D
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Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly decreases. What might happen to the typical firm in the long run?
a. It would experience no change from the original equilibrium b. It would experience a higher equilibrium price c. It would experience a lower equilibrium price d. It would experience the same equilibrium price but would increase output e. It would experience a lower average total cost and would increase output
Existing computer software
a. is a public good b. is excludable but nonrivalrous c. is rivalrous by not excludable d. should be provided free of charge e. has been produced efficiently
In the short run, a firm
A. can exit an industry, and all of its factors of production are variable. B. has at least one fixed factor of production. C. can enter an industry where positive profits are being earned. D. Both B and C are correct.
The Sweet Success Bakery sells 500 cakes at a price of $10 per cake. Its total economic costs for producing 500 cakes are $500. The Sweet Success Bakery's economic profits are
A. $100. B. $3,500. C. $4,500. D. indeterminate from this information.