If workers who make DVDs get a pay raise, the equilibrium price of a DVD ________ and the equilibrium quantity of DVDs ________

Given that energy is an input in production, the development of a cheaper source of energy will result in:

a. a lower price level and a lower amount of production. b. a higher price level and a higher amount of production. c. a lower amount of production at every price level. d. a higher amount of production at every price level. e. a lower profit at every price level.

Jim's Shoe Shine Shop operates in a perfectly competitive market. If its marginal revenue is $5 per shine, then

a. the next shine will bring in less than $5 in additional revenue b. the next shine will bring in more than $5 in additional revenue c. the market price per shine is $5 d. price is less than $5 e. price is equal to total revenue at all output levels