The unemployment rate is found by dividing the number of unemployed people by the
A) number of working individuals, and multiplying by 100.
B) number of the working-age population, and multiplying by 100.
C) sum of working individuals plus unemployed workers, and multiplying by 100.
D) number in the labor force, and dividing by 100.
C
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The total cost of a firm is $50, the average variable cost is $2, and the average fixed cost is $3. How may units of the output does the firm produce?
A) 5 units B) 10 units C) 15 units D) 18 units
LISA BETH Mustard Company undertakes an advertising campaign and finds that within the industry's relevant price range, the price elasticity of demand for its own mustard fell from 3.5 to 0.94 . As a result, we would expect that LISA BETH
a. would raise its price to increase total revenue b. would cut its price to increase total revenue c. would increase output to increase total revenue d. would increase output to reduce average total cost e. operates in a perfectly competitive market