The demand for labor depends on I. technology. II. the prices of other factors of production. III. the price of the product

The lengths of the recession and expansion phases and which sectors of the economy are most affected will rarely be the same in any two business cycles

Indicate whether the statement is true or false

Using the rule that focuses on the marginal approach to maximizing profits, a monopolist charges a price where the:

a. output sold is maximized. b. ATC curve is minimized. c. MR = MC. d. MR = 0.