The ________ the time period, the ________ is the present value of a given future payment, all other things held constant.

If a firm in a perfectly competitive market faces the curves in the graph shown and observes a market price of $16, the firm:

A. can make positive profits by producing less than 43 units. B. cannot make positive profits and should shut down in the short run. C. can make positive profits by producing where MC = MR. D. should continue to operate in the short run, but plan to exit in the long run.

A model in which workers won't be concerned about the possibility of being fired if they don't work hard, because their wage is so low, is called

A. a gift-exchange model. B. a cost-benefit model. C. a job-stress model. D. a shirking model.