During a recession
A) incomes rise and employment decreases.
B) incomes fall and unemployment increases.
C) incomes fall and unemployment falls.
D) incomes rise and unemployment increases.
Answer: B) incomes fall and unemployment increases.
Economics
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In the short run, a monopolistically competitive firm can earn
A) positive profits only. B) zero profits only. C) zero or positive profits only. D) zero, positive or negative profits.
Economics
If you know that when a firm produces 10 units of output, total cost is $1,030 and average fixed cost is $10, then total variable cost is
A. $104. B. $930. C. $1,130. D. $1,040.
Economics