If price were $190, there would be a _____ (shortage or surplus) of _____.

Suppose that a perfectly competitive firm's marginal revenue equals $12 when it sells 10 units of output. If the marginal cost of producing the 10th unit is $14, to maximize its profit the firm should

A) do nothing because it is already maximizing its profit. B) decrease its production. C) increase its production. D) shut down. E) increase the price it charges for its product.

Unemployment due to the location or skill requirements of job vacancies not matching the location or skills of the unemployed is called ________ unemployment

A) turnover B) mismatch C) cyclical D) natural