"As you devote more hours to studying, your GPA increases." A graph of this relationship would show

Suppose the firms in a perfectly competitive industry are earning positive economic profits

How will these positive profits affect the flow of resources into the industry? How will the equilibrium quantity and price change in the industry because of the profits?

As the wage rate rises, the income effect influences workers to choose ________ leisure, and the substitution effect influences workers to choose ________ leisure

A) more; less B) more; more C) less; less D) less; more