Cournot duopolists face a market demand curve given by P = 90 - Q where Q is total market demand. Each firm can produce output at a constant marginal cost of 30 per unit. If the duopolists behave as a shared monopoly, the equilibrium price and total quantity of output will be

During the 1980s and early 1990s, it was believed that the natural rate of unemployment in the U.S. was equal to

A) 4%. B) 4.5%. C) 5%. D) 6.5%. E) 7%.

Suppose a business is paying less than W E to its employees. How would this affect unemployment?

a. There would be no unemployment because demand would exceed supply, meaning
all workers would have a job.
b. There would be no unemployment because lower wages would mean that there are
more positions open.
c. There would still be unemployment because many workers would refuse to work for
such a low wage.
d. There would still be unemployment because there would not be enough jobs for all of
the available workers.