Refer to Figure 4-1. If the market price is $1.00, what is the consumer surplus on the fourth burrito?

The higher wage rate received by garbage collectors to compensate for the lower desirability of their job

a. would not exist in a competitive labor market b. is a compensating wage differential c. is caused by union negotiators d. disappears in the long run e. only applies when the garbage collecting market is an oligopoly

Which term describes the process of examining the physical outputs to the physical inputs of a given production process?

a. production function b. aggregate production function c. human capital d. physical capital