Which of the following is true for a price-searcher firm?
a. Its marginal revenue curve will lie below its demand curve.
b. Its marginal revenue curve will lie above its demand curve.
c. Its marginal revenue curve is equal to its demand curve.
d. Its marginal revenue curve is horizontal at the market equilibrium price.
A
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The two fundamental causes of unemployment at full employment are
A) demographic change and decreases in the demand for labor. B) job search and job rationing. C) seasonal jobs and technological change. D) foreign competition and financial bankruptcies. E) decreases in labor productivity and more generous retirement benefits.
Which of the following is most important for the successful functioning of any economy?
A) Clearly understood and generally accepted rules. B) Common and reasonably specific goals for people to pursue. C) Greed. D) Low taxes relative to income. E) Sufficient purchasing power to buy all of an economy's goods and services.