When a regulatory commission of a public utility, such as an electric company, chooses a fair price as the regulated price, it chooses P = MC

Suppose bad weather in Florida unexpectedly results in a much smaller citrus crop than had been projected. This would tend to cause the labor supply curve for citrus pickers to

A) shift to the left, causing the labor demand curve to shift to the left. B) remain unchanged, and the wage rate would tend to increase. C) shift to the right, causing the labor demand curve to shift to the right. D) remain unchanged, and the wage rate would tend to decrease.

Which of the following measures net exports for the year, including transactions involving services, investment income, and transfers?

A. Balance of trade B. Balance on the current account C. Budget balance D. Balance of payments