A perfectly competitive firm will hire labor as long as the marginal revenue product of labor is

In the kinked demand curve model, if one firm reduces its price

A) other firms will also reduce their price. B) other firms will compete on a non-price basis. C) other firms will raise their price. D) Both A and B are correct. E) Both B and C are correct.

The development of a nationwide computerized job bank listing of all job openings would be most likely to reduce:

a. structural unemployment. b. frictional unemployment. c. seasonal unemployment. d. cyclical unemployment.