In which market models are firm's demand curves different from their marginal revenue curves?
a. monopoly, oligopoly, and perfect competition

Increased labor demand will result in

A) lower wages. B) more employment benefits. C) higher wages. D) no change in wages.

Classical growth theory predicts that increases in real GDP per person will

A) last because people make choices in the pursuit of higher profits. B) not last because higher income encourages smaller families and a lower population growth rate. C) not last because higher income leads to a population explosion. D) last because higher growth leads to new technology. E) last only if the government directs firms to make more investments in capital and new technology.