In the long run, a monopolistic competitor will produce to the point at which
A. at the lowest possible price.
B. average total costs are at the minimum of possible ATC.
C. average total costs are higher than the minimum of possible ATC.
D. resources are used at the lowest possible cost.
Answer: C
Economics
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Bank runs are a possibility because
A) the FDIC is inefficient. B) bankers are often poor businesspeople. C) in difficult times people want currency instead of demand deposits. D) banks do not keep enough reserves to cover all their depository liabilities.
Economics
If unemployment benefits, payable for 26 weeks, became more generous it would be likely to _____ structural unemployment and _____ the natural rate of unemployment:
a. Not change; not change b. Not change; increase c. Increase; increase d. Increase; not change
Economics