Suppose that the U.S. government required firms to pay a living wage to workers in their subsidiaries or contracting firms in developing countries. As a consequence of this requirement, wages would likely _______ to the living wage and employment would likely _________.

In the above figure, a perfectly competitive market will have a price of ________, and a single-price monopoly will have a price of ________

A) P1 and quantity of Q1; P2 and quantity of Q2 B) P2 and quantity of Q2; P1 and quantity of Q1 C) P3 and quantity of Q3; P1 and quantity of Q1 D) P2 and quantity of Q2; P3 and quantity of Q1 E) P2 and quantity of Q1; P1 and quantity of Q1

On a big weekend of college football in 2010, the Associated Press found fans… who said they are making concessions yet determined to indulge their passion

"We basically let the wife and children not eat for a week so we can do this," joked Neil Plotkin, who was attending his first Penn State game. If Neil's marginal rate of substitution between weeks of food and his first Penn State game is 1, what do you predict the marginal rate of substitution between food and subsequent Penn State games is for Neil? A) less than one B) greater than one C) equal to one D) cannot determine without knowing Neil's income