The MR = MC rule is no longer accepted by most economists as representing the behavior of firms

Jack had an accident that caused a damage of $4,200 to his car. He had to pay $500 for repair while his insurer paid the remaining amount. Why do insurance companies have such policies?

What will be an ideal response?

The amount of unemployment that policymakers should not worry about because it constitutes no social problem is

A) 2 percent of the labor force. B) 4 percent of the labor force. C) not any single amount that can be clearly measured. D) the amount that can exist without causing a recession. E) the amount that is due to people's choices among available alternatives.