In a competitive market, a firm's supply curve dictates the amount it will supply. In a monopoly market the
a. same is true.
b. supply curve conceptually makes sense, but in practice is never used.
c. supply curve will have limited predictive capacity.
d. decision about how much to supply is impossible to separate from the demand curve it faces.
d
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The demand curve for Widgets is given by QD = 6000 - 2y - 200p + 30pG, where QD is the quantity of widgets demanded, y is the per capita income and pG is the price of Gizmos. Compute the partial derivatives with respect to y and pG
What will be an ideal response?
Which of the following statements best describes the U.S. labor force since World War II?
a. Total employment grew, but the labor force participation rate fell. b. Total employment grew, and so did the labor force participation rate. c. Total employment grew, but the labor force participation rate remained unchanged. d. Total employment remained constant, but the labor force participation rate fell. e. Total employment remained constant, but the labor force participation rate rose.