If they could reach agreement, two firms in a two firm industry facing the advertising dilemma would agree not to advertise.

For the purpose of statistically reporting the unemployment rate, "discouraged workers" are

A) not counted. B) counted. C) trained to do different work. D) offered other jobs.

In perfect competition, an individual firm

A) faces unitary elasticity of demand. B) has a price elasticity of supply equal to one. C) faces a perfectly elastic demand. D) has perfectly elastic supply.