When a monopolistically competitive firm is in a long-run equilibrium, the values of marginal cost, average total cost, and price are all the same
a. True
b. False
Indicate whether the statement is true or false
False
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What is the drawback of a bidder bidding up to his or her willingness to pay for a good in a Dutch auction?
What will be an ideal response?
The Lithuanian tax rate for all citizens' income is 24 percent. If the Lithuanian government was concerned about income inequality, they should change the tax system from a system that is currently ________ to a system that is ________
A) progressive; proportional B) regressive; progressive C) proportional; progressive D) proportional; regressive
The unemployment rate does not reflect the true extent of the unemployment problem. Which of the following groups is not counted as unemployed in the official unemployment statistics?
a. The underemployed and the cyclically unemployed b. The underemployed and discouraged workers c. Discouraged workers and the frictionally unemployed d. The frictionally unemployed and the structurally unemployed e. The cyclically unemployed and the frictionally unemployed
The wage premium in the United States has risen consistently starting in
a. 1973. b. 1975. c. 1978. d. 1983.