Refer to the table above. If the firm is a monopolistic competitor, what is the equilibrium price charged by the firm?
A) $77
B) $80
C) $65
D) $57
C
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Which branch of study helps in economic decision making when an individual's behavior determines the payoffs to others?
A) Microeconomics B) Macroeconomics C) Game theory D) Public economics
In the short run, a perfectly competitive firm earning negative economic profit
A) is on the downward-sloping portion of its AVC. B) is at the minimum of its AVC. C) is on the upward-sloping portion of its AVC. D) is not operating on its AVC. E) can be at any point on its AVC.
If there are 120,000 people employed in Euroland and 35,000 people are unemployed, then the unemployment rate is?
(a) 22.6%; (b) 29%; (c) 35%; (d) None of the above.
Marginal benefit is the benefit ________ one more unit of the good and ________ of the good increases
A) of producing; increases as production B) of producing; decreases as production C) from consuming; increases as consumption D) from consuming; decreases as consumption