A perfectly competitive firm produces where
a. marginal cost equals price, while a monopolist produces where price exceeds marginal cost.
b. marginal cost equals price, while a monopolist produces where marginal cost exceeds price.
c. price exceeds marginal cost, while a monopolist produces where marginal cost equals price.
d. marginal cost exceeds price, while a monopolist produces where marginal cost equals price.
a
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Refer to the figure above. What is the price that the monopolistic firm would charge?
A) $0 B) $3 C) $6 D) $9
Which of the following cause the unemployment rate as measured by the Bureau of Labor Statistics to overstate the true extent of joblessness?
A) inflation B) discouraged workers C) unemployed persons falsely report themselves to be actively looking for a job D) counting people as employed who are working part time, although they would prefer to be working full time