Use the following graph for a perfectly competitive firm to answer the next question.
The firm is
A. generating a loss and should shut down in the short run.
B. generating a loss, but should continue to produce in the short run.
C. earning a normal profit.
D. earning an economic profit.
Answer: C
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The "lemons" problem is that
a. cars of verifiable high quality are withheld from the used car market b. cars of verifiable low quality are withheld from the used car market c. cars of unverifiable high quality are withheld from the used car market d. cars of unverifiable low quality are withheld from the used car market
Just after World War II, the labor-force participation rate of women was
a. about 25 percent, and in 2015 it was about 50 percent. b. about 33 percent, and in 2015 it was about 60 percent. c. about 50 percent, and in 2015 it was about 70 percent. d. about 60 percent, and in 2015 it was about 80 percent.