In a Nash equilibrium, all players select non-dominant strategies

A monopolist will hire fewer workers than a competitive firm, other things being equal, because

A) the monopolist exploits labor and other types of producers do not. B) the monopolist must take account of the declining product price that must be charged in order to sell more units of the product. C) the monopolist is more efficient. D) diminishing marginal productivity of labor is more severe for a monopolist.

A firm's long-run average cost curve is

A) the locus of points representing the minimum unit cost of producing any given rate of output when all inputs may be adjusted. B) the locus of points made up of the minimum point on each short-run average total cost curve when only one input may be adjusted. C) the envelope of the firm's variable cost curves. D) identical to the lowest short-run average cost curve the firm has.