If the quantity of soccer balls demanded is represented by the demand equation QD = 80 - 2P, then to solve for the price of soccer balls, the equation would be rewritten as

One of the common arguments against "sweatshops" in developing countries is that wages that the workers are being paid are too low. Commentators often use dollar comparisons to show that, compared to U.S

standards, "sweatshop" workers are paid unfairly low wages. Use what you have read about the supply of labor to examine this argument.

If one were to rank the demand curve facing a firm from the least elastic to the most elastic, the ranking would be

a. monopoly, perfectly competitive, monopolistically competitive b. monopoly, monopolistically competitive, perfectly competitive c. perfectly competitive, monopoly, monopolistically competitive d. monopolistically competitive, monopoly, perfectly competitive e. perfectly competitive, monopolistically competitive, monopoly