What are the three main kinds of unemployment?
A) frictional, seasonal, and cyclical B) structural, frictional, and cyclical
C) cyclical, structural, and temporary D) temporary, permanent, and volunteer
B
Economics
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What will be an ideal response?
Economics
Costume jewelry is produced in a monopolistically competitive market. One producer finds that MR = MC = $3 when output is 700 necklaces. An economist studying this information can conclude that:
a. the producer is charging a price of $3. b. economic profit is $2,100. c. the producer charges a price greater than $3. d. new firms will want to enter. e. this producer should produce more than 700 necklaces.
Economics