If a sizable number of workers were switched from full-time to half-time employment, then the official unemployment rate would:

The perfectly discriminating monopolist will produce the

(a) quantity at which average cost exceeds marginal revenue. (b) quantity at which marginal cost equals average cost. (c) quantity at which marginal revenue equals marginal cost. (d) quantity and price which is not necessarily profit-maximizing but in the best interest of society at large, even if it means loss.

In the long run, competitive firms MUST be profit maximizers because if they do not maximize profits,

A) they will not survive. B) they will not be price takers. C) they will attract entry. D) the profits that they do earn will only cover variable costs.