Refer to Figure 4-1. Arnold's marginal benefit from consuming the third burrito is

Involuntary unemployment

A) will increase as the wage rate falls. B) exists when there is an excess quantity of labor supplied. C) occurs when the wage rate is below the equilibrium wage rate. D) exists when there is a shortage of labor.

A decrease in the price of a resource would cause

a. producers to substitute other inputs for the resource. b. the cost of products made from the resource to fall. c. producers to use more of the resource. d. none of the above. e. both b and c above.