The measured unemployment rate tends to overstate the unemployment problem

In the long run, a firm in monopolistic competition produces where the slope of the average total cost curve is

A) negative. B) zero. C) positive. D) equal to the marginal cost.

Refer to Figure 4-3. What area represents the deadweight loss at the equilibrium price of P1?

A) C + E B) C + E + H C) G + H D) There is no deadweight loss at the price of P1.