Compared with a firm in a perfectly competitive market, the demand curve faced by a monopolistically competitive firm is

One of the reasons that a firm can be ________ efficient than a market is that the firm ________

A) more; does not have any economies of scale B) more; lowers transactions costs C) less; has economies of scope D) less; produces lower profits

The cost of cyclical unemployment is

a. spread broadly among the U.S. population b. the inflationary impact of increased federal expenditures on the unemployed c. growing as the U.S. population ages d. especially felt by recent college graduates e. the lost output that results