A shortage occurs when the quantity demanded exceeds the quantity supplied

People who can earn higher market wages

a. have a greater net utility associated with nonmarket work b. supply more hours to market work than people with lower wages c. are less likely to perform nonmarket work d. are more likely to view leisure as an inferior good e. experience less disutility associated with market work

If demand is highly inelastic and supply shifts to the right, price:

A. hardly changes at all; quantity will rise significantly. B. will rise significantly as will quantity. C. will rise significantly; quantity hardly changes at all. D. will fall significantly; quantity hardly changes at all.