Figure 1A.1Refer to Figure 1A.1. The slope of the line between the points where hours worked per week are 20 and hours worked per week are 30 is:

How do changes in the money wage rate affect the LAS and SAS curves? Explain your answer

What will be an ideal response?

Suppose two duopolists operate at zero marginal cost. The market demand is p = a - bQ. If firm 1 is the Stackelberg leader, what level of output will it choose?

A) q1 = (a - bq2)/2b B) q1 = (a - 2bq2)/2b C) q1 = a/b D) q1 = a/2b