When oligopolies operate like firms in perfect competition, the firms produce at the point where the
A) price is less than the marginal cost.
B) marginal cost equals the price.
C) price exceeds the marginal cost by the greatest amount.
D) price exceeds the average total cost by the greatest amount.
E) marginal cost equals the average total cost.
B
Economics
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A labor force survey in Brownland records the following data:
Employed: 189,000 Unemployed: 15,000 Not in the labor force: 84,000 a) Calculate the unemployment rate. b) Calculate the labor force participation rate.
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A government subsidy for a good
A) is similar to a tax insofar as it decreases the production of the good being subsidized. B) increases production of the subsidized goods. C) punishes those who consume or produce the subsidized good. D) has no effect on the quantity of the good produced.
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