If a perfectly competitive firm's price is less than its average total cost but greater than its average variable cost, the firm

The Board of Governors of the Federal Reserve System does NOT

A) consist of seven members with fourteen-year terms. B) include the presidents of the twelve Federal Reserve Banks. C) utilize a system of rotations so that a position comes open every two years. D) consist of members whose appointments have been approved by the Senate.

The rate of unemployment will be higher (for a given level of labour market coordination)

a) if firms have less monopoly power b) if workers have less monopoly power c) if firms have monopoly power but workers have none d) if both firms and workers have monopoly power e) if there is no monopoly power