The long-run supply curve under pure competition is derived by observing what happens to market price and quantity when market:
A. Demand changes, and all consequent long-run adjustments have occurred
B. Supply changes, and all consequent long-run adjustments have occurred
C. Technology changes, and all consequent long-run adjustments have occurred
D. Regulation changes, and all consequent long-run adjustments have occurred
A. Demand changes, and all consequent long-run adjustments have occurred
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Which of the following is likely to be observed among unemployed individuals if the government offers generous unemployment benefits?
A) Higher motivation to look for a job B) Increased acceptance of low-paying jobs C) Lower current consumption D) Reduced motivation to look for a job
Who among the following provides a productive service?
A) Bill, a talented software developer B) Monica, a paid Washington, D.C. intern C) Buggs, an illicit drug smuggler D) All of the above.