Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly increases. What happens to the typical firm in the long run?
a. It experiences no change from the original equilibrium
b. It experiences a higher average total cost and equilibrium price
c. It experiences a lower average total cost and equilibrium price
d. It experiences the same equilibrium price but a greater average total cost
e. It experiences the same equilibrium price but a lower average total cost
B
Economics
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In the above table, the unemployment rate is
A) 6 percent. B) 24 percent. C) 18 percent. D) 29 percent.
Economics
Which of the following policies would reduce frictional unemployment?
A) a decrease in the minimum wage B) a job retraining program C) implementing an unemployment insurance policy D) building an online job database that helps workers find jobs
Economics