Use the above table and assume a fixed cost of $200. At an output of 3, AVC is

In a constant cost industry,

a. a natural monopoly is likely to occur. b. total cost is the same, no matter how much a firm produces. c. the long-run supply curve will be perfectly elastic. d. entry of new firms in the industry will lead to a reduction in the cost of inputs.

Which of the following policies would reduce frictional unemployment?

A) a decrease in the minimum wage B) a job retraining program C) implementing an unemployment insurance policy D) building an online job database that helps workers find jobs