Cecilia's Café is in a competitive price-searcher market. Cecilia's is currently producing where average total cost is at its minimum, and Cecilia's is earning a positive economic profit. In the long run we would expect Cecilia's output to
a. decrease and average total cost to be higher.
b. decrease and average total cost to be lower.
c. remain unchanged as Cecilia's is doing the best it can.
d. increase and average total costs to be lower.
A
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A weakness that could be noted about the unemployment rate is that it
A) does not account for the underutilization of workers. B) considers marginally attached workers as unemployed. C) overestimates the number of part-time workers. D) does not count part-time workers. E) counts discouraged workers as employed.
An increase in the interest rate is an increase in the opportunity cost of consuming in the future.
Answer the following statement true (T) or false (F)
Suppose that the U.S. government is trying to garner support from Central American countries to pass the newest free trade agreement, Central American Free Trade Agreement (CAFTA). Why might Central American countries argue that in terms of agricultural
products, trade with the United States is not really truly competitive? What will be an ideal response?
Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the isocost line represents a total cost of $7,200, the firm's cost of capital is ________ per unit and its cost of labor is ________ per unit.
A. $36; $72 B. $144; $72 C. $72; $36 D. $200; $100