Refer to the above figure. Which of the following statements about panel D in the figure is TRUE?
A) The figure represents a long-run equilibrium for a monopolistic competitor.
B) The figure represents an industry long-run equilibrium for monopolistic competition.
C) The figure is in error since it doesn't show the monopolistic competitor making profits in the long run.
D) The figure is in error since it has marginal cost intersecting the ATC curve at a point other than the minimum of ATC.
D
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In 2008, the rate of inflation was 2%, which then rose to 3% in 2009 before falling back to 2% in 2010. Between 2008 and 2009, the economy experienced _____ and between 2009 and 2010, the economy experienced _____.
a) inflation; disinflation b) inflation; deflation c) disinflation; inflation d) disinflation; deflation
A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job is
a. counted as out of the labor force but should be counted as unemployed. b. counted as unemployed but should be counted as out of the labor force. c. correctly counted as out of the labor force. d. correctly counted as unemployed.