In the table above, if the wage rate is $12.00 per hour, the profit-maximizing number of workers is

If a university charged a lower price for tuition during summer school than during the regular session, in search of added total revenue,

a. administrators likely believe that demand is more elastic during summer school than during the regular session. b. administrators likely believe that demand is less elastic during summer school than during the regular session. c. it indicates nothing about likely differences in the elasticity of demand during summer school than during the regular session. d. administrators likely believe that demand is both lower and less elastic during summer school than during the regular session.

Robert uses his drawing skill to create medical illustrations for a company that makes medical equipment. Robert’s drawing skill is an example of ______.

a. scarcity b. a resource c. an output d. an aggregate