A graph shows the wages of factory workers. The slope of the line is positive for periods when the wage rate is

The United Auto Workers bargained for higher wages and more benefits for autoworkers. As a result of the higher wages and increased benefits,

i. the quantity of new automobiles supplied decreases. ii. the supply of new automobiles decreases. iii. the supply of new automobiles increases. A) only i B) only ii C) only iii D) both i and ii E) Neither i, ii, nor iii is correct.

Mrs. Lovejoy decides to invest in companies which she believes can produce their goods at the lowest possible cost. Mrs. Lovejoy is investing in companies that are

A) always going to be profitable. B) productively efficient. C) both productively and allocatively efficient. D) allocatively efficient.