Based on the above information, at what price does the firm consider shutting-down?

If an import-competing firm is imperfectly competitive, than under free trade an import quota will ________ domestic market price, ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic

national welfare. A) increase; increase; decrease; have no effect on; decrease B) decrease; decrease; increase; decrease; have no effect on C) increase; have no effect on; decrease; increase; decrease D) decrease; increase; decrease; increase; decrease E) have no effect on; have no effect on; decrease; increase; decrease

In the study of labor supply, "leisure" refers to

a. time spent sleeping. b. time spent doing absolutely nothing (except breathing). c. time spent in one's place of residence. d. time spent that is not spent in market work.