Assume that the United States imposes a quota on Italian shoes. Relative to the equilibrium world price that would exist in the absence of quotas, the equilibrium price of shoes in the United States will most likely _______ , and the equilibrium price of shoes in Italy will most likely _______ .

Darryl graduated with honors from college. However, he obtained his outstanding grades by cheating on every final exam with help from his best friend; Darryl actually has the talent of a C student. Nevertheless, he gets a job with a top accounting firm in Boston. The fact that he is hired illustrates a failure of

a. comparable worth b. signaling and screening c. marginal productivity d. supply and demand e. specialization

Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, which of the following is the most profitable price per minute?

A. $0.45 B. $0.49 C. $0.53 D. $0.57