When the federal government decides to pay senators more than it pays soldiers, it answers the ________ question

Which of the following happens when oligopolistic firms decide to cooperate? a. Barriers to entry are relaxed. b. Net social welfare increases. c. The same level is produced as in a monopoly

d. Consumer surplus is the same as it would be in a competitive market.

Suppose that an industrial accident at a factory destroys a significant number of high-speed blenders that bartenders use to mix frozen drinks. What will happen in the labor market for bartenders?

a. Both wages and employment will increase. b. Both wages and employment will decrease. c. Wages will increase, and employment will decrease. d. Wages will decrease, and employment will increase.