In the long run, monopolistically competitive firms produce where demand equals marginal cost.

A cost that changes with volume, but not at a constant rate, is called a:

A) Variable cost.
B) Curvilinear cost.
C) Step-wise variable cost.
D) Fixed cost.
E) Differential cost.

A major computer software company maintains a technical support center in a rural area and is the only employer in this region. Suppose the firm develops a new software system for managing technical support calls, and the marginal product of labor increases. What happens to the equilibrium outcome in this labor market?

A) Labor demand shifts rightward, equilibrium wage and employment levels decline.
B) Labor demand shifts rightward, equilibrium wage and employment levels increase.
C) Labor demand curve remains the same, equilibrium wage and employment levels increase.
D) Labor demand curve remains the same, equilibrium wage and employment do not change.
E) none of the above

When Royal Caribbean Cruise Lines advertises its cruises on the Travel Channel it is attempting to target a specific audience through

A) direct marketing.
B) narrowcasting.
C) product placement.
D) integrated marketing communications.
E) loyalty programming.

The federal government has no restrictions under the Constitution on its power to impair contracts since the Contract Clause restricts only actions of the states.

Finished Goods Inventory is charged for the cost of jobs completed during a period.