Refer to Figure 24-1. Ceteris paribus, an increase in interest rates would be represented by a movement from

Which of the following variables can be used to measure labor productivity?

A) real GDP B) number of labor hours C) number of workers D) all of the above

Suppose the cost curves in the above figure apply to all firms in the market. If the initial price is P1, firms are ________ and some firms will ________ the industry

A) making an economic profit; leave B) making an economic profit; enter C) incurring an economic loss; leave D) incurring an economic loss; enter