Consider a firm operating with the following: price = 10; MR = 10; MC = 10; ATC = 10 . This firm is:
a. making an economic profit of 10.
b. an example of monopolistic competition.
c. going to go out of business in the long run.
d. a monopolist for a product with a relatively inelastic demand.
e. perfectly competitive in long-run equilibrium.
e
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Regression analysis is designed to show any systematic pay differences between men and women
A) that are based only on gender difference. B) that are based on differences in education levels and majors. C) that are based on differences in career choices. D) that are based on differences in job experience.
Special interest groups (such as doctors, teachers, lawyers, health insurance companies, the automobile industry and others) can best be characterized by which of the following statements?
(a) They are constantly working the government to seek rents from policy decisions. (b) They are resistant to change in governmental policies that benefit them at the expense of others. (c) They help push through federal policies that result in technological backwardness, low productivity and less overall economic growth. (d) They can be characterized by all of the above.