Ed Van Zaig is considering opening a sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and use a building that he owns and currently rents to his brother for $6,000 a year. His costs at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What are his implicit costs?

The demand for labor increases (that is, the demand for labor curve shifts rightward) if the

A) wage rate increases. B) wage rate decreases. C) price of the firm's output rises. D) price of the firm's output falls.

An advertisement campaign that successfully convinces consumers to buy union-made products has the direct effect of shifting the

A) demand curve for union labor rightward. B) demand curve for union labor leftward. C) supply curve of union labor rightward. D) supply curve of union labor leftward.