If Karen gets up early and studies three hours for her test, she is likely to get an A. If she sleeps in, she will probably get a C. What is the opportunity cost of sleeping in?

If a competitive price-taking firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be

a. greater economic profit. b. a normal profit. c. lower average total cost. d. lower average variable cost. e. economic losses.

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed

a. True b. False Indicate whether the statement is true or false