Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; higher
C. higher; potential
D. lower; higher
Answer: A
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A monopoly's demand curve for labor
A) is below that of a competitive market. B) is the same as that of a competitive market. C) is above that of a competitive market. D) equals p ? MPL.
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A) there are negative externalities. B) there are positive externalities. C) there are public goods produced. D) equilibrium occurs.