If new capital increases labor productivity, the supply of labor ________ and the demand for labor ________

If you buy an insurance policy with a low deductible and no co-payments, you would end up paying

a. A higher premium b. A lower premium c. The premium of a low risk individual d. Both B&C

If the firms in a monopolistically competitive industry are suffering short-run losses, which of the following will occur in the long run?

a. Some firms will enter the industry. b. Customers of firms that leave the industry will switch to remaining firms. c. Firms that remain in the industry will face reduced demand. d. Firms will continue to incur losses. e. There will be no excess capacity.