Refer to the above figure. Suppose that Cheerios and Apple Jacks are substitutes. Which diagram shows the effect on the demand for Cheerios when the price of Apple Jacks cereal has decreased?

The parties to a swap are formally called the

A) counterparties. B) optioners. C) short and long positions. D) bond- and billholders.

The demand for labor is

A) derived from the demand for the final product of the firm. B) derived from the satisfaction that hiring labor provides the owner of the firm. C) derived from the satisfaction workers get for being employed. D) derived from a utility-maximizing process similar to that used to derive the demand curve for all workers in a given industry.