If real GDP per person in a country equals $20,000 and 40 percent of the population is employed, then average labor productivity equals:

Which of the following is not necessarily true in the long for a competitive industry?

a. Firms earn zero profits. b. Firms set MC = MR. c. A firm will not produce if the market price is less than their break-even price. d. The long-run supply curve is more elastic than the short-run supply curve.

Sierra likes chocolate-covered deviled eggs. After eating 10 chocolate-covered deviled eggs, she switches to strawberry ice cream covered in sauerkraut. We can conclude that

A. Sierra is minimizing her utility. B. at this point, the chocolate-covered deviled eggs have a lower marginal utility per dollar spent than that of strawberry ice cream covered in sauerkraut. C. the chocolate-covered deviled eggs made Sierra sick. D. the chocolate-covered deviled eggs now have a negative marginal utility.