The term “human capital” refers to how many people must work to produce a product.

A price searcher can move its marginal revenue curve closer to its demand curve if it can

A) achieve significant economies of scale. B) charge different buyers different prices for the same good. C) price at the point of unit demand elasticity. D) produce at constant marginal cost. E) set marginal revenue equal to marginal cost.

Which of the following will cause a decrease the supply of jeans?

A. A decrease in the expected future price of jeans. B. An increase in the wages paid to workers who make jeans. C. A decrease in the price of jeans. D. A decrease in the demand for jeans.