In the above table, if the marginal revenue product is $22, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?

Ultimately, quotas ________ the ability of foreign countries to buy the domestic country's exports and therefore ________ wealth

A) increase; create B) increase; destroy C) reduce; create D) reduce; destroy

If perfectly competitive firms are maximizing their profit and are making an economic profit, the market ________ in a short-run equilibrium and ________ in a long-run equilibrium

A) is; is B) is; is not C) is not; is D) is not; is not E) is; might be