Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of:
a. structural unemployment.
b. involuntary unemployment.
c. frictional unemployment.
d. cyclical unemployment.
a
Economics
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If it does not shut down, a perfectly competitive firm produces where marginal cost is equal to the marginal revenue
A) only in the short run. B) only in the long run. C) always to maximize its profit. D) only if it is not possible to produce where price equals average variable cost. E) only if it is not possible to produce where price is greater than average total cost.
Economics
Exhibit 9-2 Demand and cost information for a monopoly Q P TC 0 40 10 1 30 15 2 20 25 3 10 40 4 0 60 The marginal revenue of the second unit of output in Exhibit 9-2 is:
A. 10. B. 20. C. 30. D. 40.
Economics