In the figure above, at the point where the price is $60 per bunch, the price elasticity of supply is

If an industry introduces a labor-saving technology in production, the demand curve for labor in that industry is likely to:

A) shift to the left. B) shift to the right. C) become vertical. D) become horizontal.

Suppose MRS does not equal MRT for all consumers. In this case, the economic outcome is not fully efficient because:

A) exchange is inefficient. B) the use of inputs in production is inefficient. C) the mix of outputs in inefficient. D) none of the above