In the RBC model, the importance of "intertemporal substitution" of labor supply is ________, which results in a rather ________ labor supply curve

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?

A) 5; $18 B) 3; $14 C) 4; $22 D) 4; $16

What will happen to the equilibrium quantity and price of salmon in a competitive market when there is an equal decrease in demand and supply?

A. Equilibrium quantity and price will both increase B. Equilibrium quantity and price will both decrease C. Equilibrium quantity will decrease and equilibrium price will stay the same D. Equilibrium quantity will stay the same and equilibrium price will increase