The marginal revenue that would be derived from producing a fifth unit of output is

Steel workers laid off from their jobs as the result of a recession are considered

A) seasonally unemployed. B) cyclically unemployed. C) frictionally unemployed. D) structurally unemployed.

If, at the point where MR = MC, the firm incurs losses, in the short run the firm should:

a. shut down. b. increase output. c. decrease output. d. continue at its current output if P > AVC. e. continue at its current output if P > ATC.