Unemployment, at the aggregate level.,
A) is avoidable.
B) is part of a well-functioning economy.
C) is always a sign of market failure.
D) would not happen with good policy.
B
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A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PIwhere P is price, M is income, and PI is the price of a key input. The forecasts for the next year are 
= $15,000 and 
I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2Total fixed cost will be $6,000 next year. Suppose that income next year is forecasted to be $10,000 instead. What will the firm's profit (loss) be?
A. zero B. -$6,000 C. -$2,856 D. $2,500 E. -$3,550
If a monopolist can price discriminate among buyers, it will charge buyers with more elastic demands a higher price.
Answer the following statement true (T) or false (F)
If the price elasticity of demand is very elastic, which of the following could be a possible value of the elasticity?
A. 2 B. 1 C. 1/3 D. 0
Explain the difference between a sole proprietorship and a partnership
What will be an ideal response?