Suppose that the adult population in some country is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

The most socially efficient market structure in the long run is: a. perfect competition

b. monopolistic competition. c. oligopoly. d. monopoly.

If a firm in a perfectly competitive market faces the curves in the graph shown and observes a market price of $16, the firm:

A. can make positive profits by producing less than 43 units.
B. can make positive profits by producing where MC = MR.
C. cannot make positive profits and should shut down in the short run.
D. should continue to operate in the short run, but plan to exit in the long run.