Refer to the diagram, representing Slippery Slope Oil Company. What is the user cost of extracting a barrel of oil this year?

Downward wage rigidity:

A) leads to frictionless labor markets. B) causes the wage to be above the market clearing wage. C) helps lower unemployment. D) is common only in industries with strong labor unions.

Which of the following is a form of capital for most economics professors?

A) Chalk B) Paper C) Calculators D) All of the above E) None of the above is capital, since economists define capital as liquid assets.