In the short run, the profitability of monopolistic competition _______ that of perfect competition; in the long run the profitability of monopolistic competition _______ that of perfect competition.
Fill in the blank(s) with the appropriate word(s).
is the same as; is the same as
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If the marginal product of labor is 45 units of output and the marginal product of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $28 per machine, are these two inputs being used in the least-cost
combination and what should be done if they are not?
(Last Word) According to the Austrian School, the best explanation for what caused the Great Recession was that:
A. tax rates that were too high discouraged spending. B. government spending that was too low created insufficient public capital. C. interest rates that were too low induced excessive borrowing. D. interest rates that were too high discouraged firm borrowing and investment.