Pete owns a small store. He has noticed that when he is not at the store monitoring his employees, his revenue goes down. What are two changes Pete could make to wages he pays his employees to correct this problem?

For a perfectly competitive firm, at the profit-maximizing output average revenue equals marginal cost

Indicate whether the statement is true or false

What is the long-run equilibrium in the extended aggregate demand and aggregate supply model?

What will be an ideal response?