In the figure above, ________ is a technologically efficient point
A) d
B) f
C) g
D) None of the selections is correct.
A
You might also like to view...
If firms in a perfectly competitive industry are earning an economic profit, then in the ________, firms will ________ the industry
A) short run; enter B) long run; enter C) short run; exit D) long run; exit E) More information about the firms' costs and the price of the product is needed to determine if firms enter or exit the industry.
Frictional unemployment comes about because of
A) friction between labor and management. B) a mismatch between skills and available jobs. C) normal labor market turnover. D) a general economic slowdown.
Why do economists measure responsiveness of demand to price in percentage changes rather than in absolute changes?
What will be an ideal response?
An example of a price shock is ________
A) an increase in wages as a result of higher expected inflation B) the arrival of immigrants seeking employment C) the decline in autonomous spending that results from rising unemployment D) all of the above E) none of the above