Quarts of orange juice at a local grocery store are priced at one for $3.00, or two for $5.00 . The marginal cost of buying a second quart of orange juice:

Unemployment that is the result of recessions is called

A) frictional unemployment. B) cyclical unemployment. C) downtime unemployment. D) structural unemployment.

In a competitive market, each seller has limited control over the price of his product because

a. other sellers are offering similar products. b. buyers exert more control over the price than do sellers. c. these markets are highly regulated by the government. d. sellers usually agree to set a common price that will allow each seller to earn a comfortable profit.