Frictional Unemployment Goes Up When

question 81

Multiple Choice

Frictional unemployment goes up when

• A)A student quits work to return to school at the end of the summer.
• B)A corporation transfers a worker to another city.
• C)A worker quits one job to search for another in the same line of work.
• D)There is inadequate demand for labor.

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Definitions:

Pure-monopoly Market

A market structure where a single firm has the exclusive control over the supply of a product or service, with no close substitutes available, allowing for price setting.

X-inefficiency

The difference between actual and minimum possible input costs, often occurring due to a lack of competitive pressure and inefficiencies in production.

Minimum Possible Average Cost

The lowest average cost at which a firm can produce its output in the long run, given its technology and factor prices.