Pizza joints often offer substantially lower prices for pizza picked up at the shop compared to delivered pizza prices. This may be an attempt at

Refer to the production possibilities frontier in the figure above. Which production point indicates that resources are NOT fully utilized or are misallocated?

A) point a B) point b C) point c D) point e

In a perfectly competitive labor market, the wage rate paid by the individual firm is

A. the equilibrium market wage rate. B. a function of the tax system. C. below the equilibrium market wage rate. D. dependent on the demand for the product.