Refer to the figure above. How many chairs does Lithasia import when the government imposes a tariff of $1 per unit?

Refer to the scenario above. If the economy is currently on F2 and produces Y3 level of output, a leftward shift of the labor demand curve with no change in productivity will cause output to ________

A) increase from Y3 to Y4 B) decline from Y3 to Y1 C) decline from Y3 to Y2 D) increase from Y3 to Y5

Goods X and Y are substitutes. If the price of good Y falls, the marginal revenue product of good X

A) will not change. B) will shift out. C) will become more inelastic. D) will shift in.