An estimate of a household's long-run average income is called permanent income

The above figure shows the market for finish carpenters in Bozeman. If there is a minimum wage set at $18, which of the following statements is true?

A) Firms' surplus increases with the minimum wage. B) Workers who retain their jobs have their wages rise. C) The market is efficient. D) The quantity supplied of workers is less that quantity demanded. E) Unemployment decreases because firms employ their workers more carefully.

What three conditions must hold for a firm to successfully price discriminate?

What will be an ideal response?