The above figure shows the market for biologists. The government decides to set a minimum wage for biologists of $18 per hour. After this minimum wage is in effect, the firms' surplus equals ________

Retained earnings are

a. earnings of a company that are not paid out to stockholders. b. the amount of revenue a corporation receives for the sale of its products minus its costs of production as measured by its accountants. c. the single most important piece of information about a stock. d. computed by multiplying the dividend yield by the price of the stock.

In a simultaneous move game, the number of possible pure strategies a player can play is equal to the number of actions he can choose to take.

Answer the following statement true (T) or false (F)