In the scenario above, as a result of increased advertising, Talbot's economic profit

If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the labor force participation rate is

A) 69.6 percent. B) 23.3 percent. C) 6.67 percent. D) 50 percent.

Opportunistic behavior may occur when

A) a firm buys its inputs from multiple suppliers. B) firms incur significant transaction costs when negotiating contracts. C) a firm backwards vertically integrates. D) a firm can buy a key component from only one supplier.