Refer to Figure 15-17. An economics professor argues: "I think the course should be priced so as to achieve economic efficiency." How much profit (or loss) will the college make on the course if it charges this price?

In the figure above, if the minimum wage is $8 per hour, then

A) resources used in job-search activity increase compared to the situation before the minimum wage. B) it is legal to hire workers for a wage below the minimum wage because otherwise unemployment would result. C) the deadweight loss is minimized. D) Both answers A and B are correct. E) Both answers B and C are correct.

Antitrust law is law that

A) does not allow individuals to open trust savings accounts. B) prohibits competition in certain industries. C) prohibits certain kinds of market behavior by firms. D) allows firms under special circumstances to be a monopoly.