Refer to the above graphs. A short-run equilibrium that would produce losses for a monopolistically competitive firm would be represented by graph:
A. A.
B. B.
C. C.
D. D.
Answer: D
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A person who is not working, but actively seeking employment, is considered to be out of the labor force
Indicate whether the statement is true or false
The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is under-qualified d. Initial Public Offerings (IPOs) seek investors when prospects look good
If the market for bottled spring water is characterized by a very elastic supply curve and a very inelastic demand curve, an outward shift in the supply curve would be reflected primarily in the form of
a. higher prices. b. higher output. c. lower prices. d. lower output.
The high cost of labor in the European labor market is partially caused by:
a. Substantial labor market regulation b. high productivity c. restrictions on hiring d. a hire and fire policy e. none of the above