The monopolist's marginal revenue curve is represented graphically by a negatively sloped line.
Answer the following statement true (T) or false (F)
True
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The figure above shows a firm in a perfectly competitive market. If the firm does not shut down, the least amount of output that it will produce is
A) less than 5 units. B) 5 units. C) 8 units. D) 10 units.
Which of the following inputs are variable in the long run?
A) labor. B) capital and equipment. C) plant size. D) all of these.
Between the years of 2001 and 2003, what happened to the structural deficit?
a. It declined rapidly. b. It fell steadily. c. It increased steadily. d. It remained fairly constant.
Union membership as a percent of the nonagricultural labor force ____ in 1970 to approximately ____ in 2012
a. fell from approximately 30 percent; 11 percent b. rose from approximately 15 percent; 22 percent c. fell from more than 40 percent; 10 percent d. rose from approximately 8 percent; 40 percent