A perfectly competitive firm's marginal revenue
a. curve is a vertical line
b. equals price
c. rises at a constant rate
d. rises at an increasing rate
e. falls at a constant rate
B
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Based on the information in the table, what is the unemployment rate?Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 10.0% B. 8.0% C. 28.0% D. 7.2%
For players in a repeated-play game to achieve cooperation:
A. the players must reach an explicit agreement to cooperate. B. the players need not explicitly state an agreement to cooperate, but must publicly display a commitment strategy. C. there is no need to enter into public commitment strategies or explicit agreements. D. there is no need for players to collude.
Briefly and concisely define the following terms and explain their relevance to the study of economics
a. industrial and craft unions b. closed shop c. union shop d. bilateral monopoly e. collective-bargaining agreement
Interest is the payment for the use of funds used to produce capital
a. True b. False Indicate whether the statement is true or false