Who among the following is neither employed nor unemployed?
a. Kate, who did not work because she wanted to complete her studies but is now available for work
b. Robert, who is working part-time at Kent's Snack Bar as he wants more time to study
c. Greg, who is a doctor working as the head of the neurosciences department of a community hospital
d. Smith, who is an accountant by profession but is working as a clerk in a bank
d
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A perfectly competitive firm faces a market clearing price of $150 per unit. Average variable costs are at the minimum value of $200 per unit at an output rate of 100 units. Marginal cost equals $150 per unit at an output rate of 75 units
It can be concluded that the short-run profit-maximizing output rate is A) 75 units, at which the firm earns zero economic profits per unit sold. B) 75 units, at which the firm earns $50 in economic profits per unit sold. C) 100 units, because marginal cost equals average variable costs. D) 0 units, because price is less than average variable costs.
If the stores could co-operate, what is the new Nash equilibrium?
a. Megastore $95 and Superstore $80 b. Megastore $305 and Superstore $55 c. Megastore $65 and Superstore $285 d. Megastore $165 and Superstore $115