Which of the following is the best example of a variable cost for a major league baseball franchise?

In the long-run, a firm in monopolistic competition produces an amount of output that sets

A) P > ATC and MR = MC. B) P > ATC and MR > MC. C) P = ATC and MR = MC. D) P = ATC and MR > MC.

The CEO of Banner Enterprises adopts a new welfare policy for all employees. The policy states that the company will prevent wages from falling when there is an economic downturn, but the employees should not expect huge salary increases when the economy is strong again. This is an example of _____

a. the efficiency wage theory b. an implicit contract c. a seasonal contract d. an adverse selection