The proportion of blacks in the work force is ______ what would be expected based on their percentage of the overall population.

If preferences are transitive, indifference curves

A) intersect at the optimum consumption bundle. B) do not intersect. C) intersect where the marginal rate of substitution for each indifference curve is equal. D) intersect at the equilibrium consumption bundle.

What is the definition of producers' surplus?

A) price received minus maximum selling price B) maximum selling price minus price received C) price received minus minimum selling price D) highest price minus lowest price E) none of the above