Refer to Figure 2-8. Suppose Vidalia is currently producing 20 dozen orchids per period. How many roses is it also producing, assuming that resources are fully utilized?

In the collective bargaining process, once the United Auto Workers and General Motors representatives agree on a contract, the union members

a. must accept the contract b. may reject the contract and must then have their representatives continue negotiations c. may reject the contract and must then go on strike d. may reject the contract and must then vote on whether to strike or to continue negotiations e. may reject the contract and must then seek employment with a different firm

Price ceilings set below the ______ price distort price signals and incentives to producers and consumers.

a. indeterminate b. market clearing c. supply d. inflation