This profit-maximizing (loss-minimizing) firm produces a quantity of about _______ units.

Which of the following is not a characteristic of a monopolistically competitive market structure?

A) All sellers sell products that are differentiated. B) There is a large number of independently acting small sellers. C) Each firm must react to actions of other firms. D) There are low barriers to entry of new firms.

A decrease in the growth rate of labor productivity is likely to cause a decrease in ________

A) the growth rate of the real wage B) the growth rate of the marginal product of capital C) the growth rate of the labor supply D) the share of labor income in national income E) none of the above