Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will

A firm in monopolistic competition is

A) efficient because in the long run it earns zero economic profit. B) efficient because it produces at the minimum average total cost. C) inefficient because price exceeds marginal cost. D) efficient because of the ease of entry. E) efficient because it produces where MR = MC.

Samantha is at a friend's house for dinner. Her friend says "I can re-heat either the lasagna or the fried rice." Samantha likes them both, but chooses the fried rice. Does Samantha's choice entail a cost?

A) No—as long as her friend didn't charge Samantha for the meal. B) Yes—Samantha sacrificed the opportunity to eat lasagna. C) Yes—as long as Samantha reimburses her friend for the cost of re-heating the meal. D) Both A and C above.