A typical American worker covered by unemployment insurance receives
a. 50 percent of his former wages for 26 weeks.
b. 50 percent of his former wages for 52 weeks.
c. 100 percent of his former wages for 26 weeks.
d. 100 percent of his former wages for 52 weeks.
a
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Qd = 200 - 100P, where P is the per-minute price in dollars and Q is the number of wireless minutes. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute and the largest fixed fee that it can, what is Always There's profit per customer?
A. $153.13 B. $150.00 C. $187.50 D. $37.50
The demand and supply curves cross at the _____ point.
Fill in the blank(s) with the appropriate word(s).
If at its current production level, a perfectly competitive firm's marginal revenue and long-run marginal cost are equal to $0.50 and its long-run average cost is $0.35, which of the following statements is true?
A) The firm should expect the market price of its product to fall. B) The firm should expect to earn positive economic profit indefinitely. C) The firm should expect the market price of its product to increase. D) The firm should expect the market supply curve to decrease.